Petrobras to resume Equatorial Margin drilling after Ibama license renewal

Brazil's environmental agency Ibama renewed the operating license for Petrobras' Morpho well in the Equatorial Margin, allowing drilling to resume next week. This marks a step forward for Petrobras' exploration in a highly prospective but environmentally sensitive region, though the license covers new wells and signals regulatory progress. The resumption could unlock significant oil reserves, impacting Brazil's energy outlook and Petrobras' production plans.