Ibama permits Petrobras to drill three new wells in Foz do Amazonas Basin

Brazil's environmental regulator Ibama amended Petrobras' license to allow three new exploratory wells in the Foz do Amazonas Basin, following the recent Morpho discovery. This signals regulatory progress for offshore oil exploration in a sensitive area, though commercial viability remains unproven. The move could unlock significant reserves and reshape Brazil's energy outlook.