CNN Money – 05/11/2024 at 14:04
Petrobras applied for licences from Ibama for drilling in the region, which were denied by the agency.
The authorisation from Ibama (the Brazilian Institute of Environment and Renewable Natural Resources) for Petrobras to operate in oil exploration in the so-called Equatorial Margin (an area stretching from the coast of Rio Grande do Norte to Amapá) is expected to be reviewed and approved between March and April next year, according to sources within Ibama.
This development comes in the wake of criticism from Petrobras president Magda Chambriard, in an interview with CNN Money, regarding the delay in licence approval. It also follows significant internal resistance and opposing mobilisation.
The shift in perspective regarding operations involves the potential relocation of a Petrobras operational base from Belém (PA) to Oiapoque (AP), an area seen as more strategically advantageous.
The debate over oil exploration in Brazil’s Equatorial Margin highlights a complex web of economic, environmental, and political interests surrounding Petrobras’ activities in the region. The potential for energy production has drawn significant attention from investors and the government, who view the exploration as a means to strengthen the economy and diversify revenue sources.
The area is near the mouth of the Amazon River, which, according to environmentalists, heightens the risk of harm to a sensitive and largely uncharted ecosystem that is home to endangered species and plays a vital role in global environmental stability. The dispute intensified in 2023 when Petrobras requested drilling licences from Ibama for the region.
Ibama denied the licence, citing insufficient studies on the environmental impacts, leading to a direct conflict with Petrobras. This decision reignited debates about environmental governance in Brazil and the role of regulatory institutions, while also highlighting divisions within the federal government, which faces the challenge of balancing economic development goals with international environmental commitments, such as those made at COP-30, which will be hosted in Brazil.
Source: CNN / BR8
