Brazil's government approved on Monday exploratory drilling by state-run oil-giant Petrobras near the mouth of the Amazon River. The decision comes only weeks before the United Nations climate conference in Belem, COP30, where efforts to reduce the use of fossil fuels will be discussed.
The Equatorial Margin deposit off the coast of Brazil, which stretches from Brazil’s border with Suriname to a part of the country’s Northeast region, is believed to be rich in oil and gas.
