Equatorial Margin News Today

The most controversial blocks for exploration are located offshore at the mouth of the Amazon River basin. Petrobras, a government-controlled oil company, is pushing to begin preliminary drilling in search of new oil reserves.

The new boss of Brazil's Petrobras said it was crucial that the state-run company "accelerate" oil exploration, including in a controversial offshore basin near the mouth of the Amazon River. Former regulator Magda Chambriard took over as chief executive of the oil giant on Friday, after left-wing President Luiz Inacio Lula da Silva sacked her predecessor, AFP reported.

The new boss of Brazils Petrobras said Monday it was crucial that the state-run company accelerate oil exploration, including in a controversia

Oil Exploration: Former regulator Magda Chambriard took over as chief executive of the oil giant on Friday, after left-wing President Luiz Inacio Lula da Silva sacked her predecessor.

Petrobras' new chief executive officer Magda Chambriard reportedly stated that a basin in Brazil's Equatorial Margin was a matter of "national interest." On Friday, Petrobras appointed Magda Chambriard as a member of the Board of Directors and elected her as the company's new CEO. She replaced prior CEO Jean Paul Prattes, who had resigned amid a dispute over dividend payments.

The oil firm to be created from the merger of Brazils 3R Petroleum and Enauta wants to explore the Foz do Amazonas basin if state-run firm Petrobras finds oil there, its future CEO Decio Oddone...

Brazilian President Luiz Inacio Lula da Silva has appointed Magda Chambriard as the new CEO of Petroleo Brasileiro SA, pushing her to accelerate investments in refineries and natural gas expansion

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Recent oil and gas discoveries announced in regions continuing to these borders, especially in neighboring Guyana and Suriname, indicate significant oil production potential for the Brazilian Equatorial Margin.

The new extractive reserves allow resident populations to engage in traditional and sustainable extractive practices such as fishing and hunting, while keeping out big businesses, such as commercial aquaculture or logging.