The move has triggered sharp criticism by environmental activists ahead of the COP30 UN climate talks in Brazil next month. The Equatorial Margin deposit off Brazil's coast is believed to be rich in oil and gas. The company was granted the license to drill in the area after a five-year battle. The country's environmental agency IBAMA said the approval came after a "rigorous environmental licensing process."
Brazil's Petrobras has been given permission to drill for oil near the mouth of the Amazon River, casting a shadow over the country's green ambitions as it prepares to host UN climate talks. Luiz Inacio Lula da Silva, the president, has come under fire from conservationists who argue his oil expansion plans clash with his image as a global leader on climate change. Brazil will host Cop30 climate talks in the Amazon city of Belem next month.