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Wednesday, July 15, 2026

Brazil: Minister of Environment contests the government and says Ibama’s decision against Petrobras will be respected

By · May 24, 2023 · 1 min read

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Brazil’s Minister of Environment Marina Silva said on Tuesday (23) that Ibama’s decision to deny the environmental license for Petrobras to drill a well to extract oil at the mouth of the Amazon River must be respected.

The statement comes at a moment of tension between the agency and the government.

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President Luiz Inácio Lula da Silva (PT) said he would intervene to “understand” the impacts that extraction can bring to the region’s ecosystem.

Minister of the Environment says Ibama’s decision was technical in denying Petrobras’ drilling of a well at the mouth of the Amazon (Photo internet reproduction)
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“The opinion of Ibama, considering the unanimous position of ten technicians who analyzed the request for a license to drill an exploratory well, was against it.”

“From now on, what is established is compliance with the law.”

“It is a technical decision, and the technical decision in a republican and democratic government is fulfilled and respected, based on evidence”, she said.

The license for the enterprise was officially denied last week, and the case generated great political repercussions and led to the disaffiliation of Senator Randolfe Rodrigues from Rede Sustentabilidade.

He is the leader of the government in the Senate.

Petrobras said it was surprised by Ibama’s decision and that the company met the conditions imposed by the authority.

The state-owned company also said it would present new environmental impact studies to plead for a new license.

News Brazil, English news Brazil, Brazilian politics

Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
Rio Times · Live Ticker Intelligence
Petroleo Brasileiro Petrobras SA ADR
PETR4 · B3 São PauloEnergyOil & Gas Integrated
Share price · live
$40.59
▼ -0.17% today
Market cap
$115.5 bn
3.7 bn shares
P / E
5.7
EPS 3.14
Dividend yield
16.7%
$2.99 / share
The company
Employees
43,199
Headquarters
Rio De Janeiro
Listed since
2000

Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and…

Financial performance · FY · USD
RevenueNet income
2023
$105.5 bn
$25.7 bn
2024
$91.4 bn
$7.5 bn
2025
$88.1 bn
$19.7 bn

Net income declined to $19.7 bn in 2025, from $25.7 bn in 2023.

Valuation & returns
EBITDA margin
40.9%
Net margin
21.6%
Return on equity
25.6%
Price / book
1.34
Enterprise value
$440.8 bn
Revenue growth · YoY
+0.4%
Latest earnings
Q1 2026 — reported EPS 0.96 vs 0.99 expected
Missed −3%
Peers & comparators
IBOV
▼ -0.36%
USD/BRL
▲ +0.06%
BRENT
▲ +1.06%
Data: EODHD Fundamentals & live feed · The Rio Times Ticker Intelligence

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