Monday, June 24, 2024
    HomeWorldBrazilian President Lula's Coalition Divided over Amazon Petrobras Project: Environment vs Economy

    Brazilian President Lula’s Coalition Divided over Amazon Petrobras Project: Environment vs Economy

    Related stories

    Section 144 imposed in Miyapur by Cyberabad police

    The Cyberabad Police Commissioner has imposed prohibitory orders in...

    Vaddiraju Ravi Chandra named Deputy Parliamentary Leader for BRS

    Rajya Sabha Member Vaddiraju Ravichandra was chosen as the...

    Today, Telangana to announce Intermediate Supplementary exam results

    The Telangana State Board of Intermediate will release the...

    Two dangerous criminals captured with lethal weapons

    In Hyderabad, the police arrested two robbers who were...

    Brazil’s environmental regulator, Ibama, has blocked state-owned oil company Petrobras’ Amazon oil project, creating a conflict within President Luiz Inacio Lula da Silva’s coalition between green advocates and those prioritizing economic development. Petrobras plans to appeal the decision, stating that it strictly complied with all licensing requirements. Lula has focused on environmental policies, but he is also under pressure to boost poor, underdeveloped regions in the north and northeast. Senator Randolfe Rodrigues wrote on Twitter that the governing coalition will fight against the decision, as it has major economic impacts. Petrobras can file a new request to drill in the region, but studies presented so far were not enough for the move to be cleared.

    Also read:  Mayor Sudharani faces a challenging situation with looming no-confidence motion

    Petrobras remains committed to developing the Brazilian Equatorial Margin and ensuring the country’s energy security, but the ruling effectively ends all future development of the unexplored oil prospects at the mouth of the Amazon river. Exploration rights in the area were auctioned in 2013, but oil majors BP and TotalEnergies pulled out due to the cost of off-shore studies and difficulties in obtaining licenses for drilling, while Petrobras kept going. Environmental groups celebrated Ibama’s decision, which emphasized the need for a fair energy transition amidst the climate crisis.

    - Advertisement -

    Follow us


    Contribute News

    You can contribute an article to Telangana Tribune by dropping a mail at

    Latest stories


    Please enter your comment!
    Please enter your name here