IBOV 192,114.55 ▲ 2.63% IPSA 10,916.59 ▲ 0.08% IPC MEX 64,531.68 ▲ 1.10% MERVAL 2,767,663 ▲ 0.32% COLCAP 2,515.02 ▼ 0.59% BVL PERÚ 59,751.67 ▲ 0.18% USD/BRL5.22— 0.00% USD/MXN18.15▼ 0.83% USD/CLP989.60— 0.00% USD/COP3,263▼ 1.66% USD/PEN3.43▼ 0.53% USD/ARS1,524▼ 0.04% USD/UYU40.46▲ 3.55% USD/PYG5,821▲ 2.69% USD/BOB11.93▲ 2.09% USD/DOP59.90▲ 0.67% USD/CRC456.38▲ 3.02% USD/GTQ7.64▲ 3.14% USD/HNL26.86▲ 3.19% USD/NIO36.62▲ 2.63% USD/VES864.39▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.69▲ 1.67% EUR/BRL5.87▲ 0.03% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 192,114.55 ▲ 2.63% IPSA 10,916.59 ▲ 0.08% IPC MEX 64,531.68 ▲ 1.10% MERVAL 2,767,663 ▲ 0.32% COLCAP 2,515.02 ▼ 0.59% BVL PERÚ 59,751.67 ▲ 0.18% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Saturday, October 3, 2026

Brazil Business - Brazil

Prosecutors Give Brazil’s Environment Agency Five Days on Amazon Oil

By · August 19, 2026 · 5 min read
A worker in red overalls watching a flare on an offshore oil platform, Foz do Amazonas exploration
Petrobras has asked to drill three more wells in the Foz do Amazonas basin. Prosecutors gave Ibama five days to justify it.

Key Facts

  • —What happened Prosecutors gave Brazil’s Ibama five days from 17 August to justify three more Petrobras wells at the Amazon’s mouth.
  • —How big a jump The current licence covers only the main well, Morpho; the three extra wells remain unlicensed and unapproved.
  • —The real story Prosecutors argue that granting these wells via a simple permit change could break environmental rules and skip cumulative impacts.
  • —The catch Petrobras found hydrocarbons at Morpho but hasn’t established size or viability; no discovery declared (US$…).
  • —Who it touches The wells sit in block FZA-M-59 about 175 kilometres off Amapá, near reefs, mangroves, and the French Guiana border.
  • —What comes next Petrobras needs 15 to 20 more days to finish the well; Ibama must answer prosecutors within the five-day deadline.

Petrobras wants to drill three more wells at the mouth of the Amazon. Prosecutors want the environment agency to explain how that would be lawful.

Federal prosecutors have given Brazil’s environment agency five days to justify three more Petrobras wells in the Foz do Amazonas. The request went out on 17 August.

What the prosecutors are asking

The Federal Public Ministry, the MPF, sent Ibama a formal request on 17 August. It gave the agency five days to produce information, justifications and documents.

The prosecutors argue that authorising new drilling by simple permit or licence amendment could break environmental rules. It would also skip over cumulative impacts.

The request came through the prosecutor’s office in Pará. Individual prosecutors have not been named.

What is actually licensed at the Foz do Amazonas

Ibama says the licensing file for block FZA-M-59 anticipates four wells: one main well and three contingent ones.

The operating licence issued in October 2025 covers the main well, Morpho. The other three depend on further information and analysis.

Petrobras has confirmed it filed a request to license the three additional wells.

Contingent wells are drilled only if the first one justifies them. That is the argument the licence turns on.

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Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$135.20B
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Analyst target $22.95

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Market cap$135.20B
Revenue (TTM)$548.49B
P / E ratio5.3
Profit margin24.3%
Return on equity30.3%

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Ownership

Institutions22.3%
Shares outstanding3.72B
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Yield17.6%
Payout ratio28.3%
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What Petroleo Brasileiro Petrobras does. 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 Production segment explores, develops, and produces…
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What Petrobras found, and what it did not

Petrobras said it identified hydrocarbons at the Morpho well, formally 1-BRSA-1405-APS, in block FZA-M-59 in the Foz do Amazonas, off the Amapá coast.

The well sits about 175 kilometres from shore in 2,886 metres of water. The finding rests on wireline logs and rock samples.

The company was explicit that this does not establish the size of any accumulation or whether it is commercially viable. No commercial discovery has been declared.

Its chief executive said drilling should finish before any volume can be assessed. Petrobras has said it needs a further 15 to 20 days to complete the well.

Wireline logs and rock samples show what is down there. They do not show how much of it there is.

Why the mouth of the Amazon is contested

The Foz do Amazonas basin sits where the Amazon meets the Atlantic, near reef systems and mangrove coastline. Licensing there took years and was fought at every stage.

The October 2025 licence was the first to authorise drilling. Extending it to three more wells is the argument now.

The Foz do Amazonas is also close to the maritime border with French Guiana, where similar geology has been drilled.

What Ibama and Petrobras say

Ibama said it will assess the MPF recommendation once received and answer within the deadline.

Petrobras has confirmed the licensing request and said other wells are planned as part of its wider Foz do Amazonas exploration effort.

Neither side has set out a timetable. The five-day clock is the only date on the table.

A note on the numbers circulating

Figures have appeared suggesting the find could lift Petrobras reserves by more than half, and that production is about seven years away.

Neither is attributable to Petrobras, to a bank or to a ministry in anything we could verify. Until the well is finished, the company itself says the size is unknown.

We reported the hydrocarbon find itself on 15 August. What has changed since is the licensing fight, not the geology.

Sources

Frequently Asked Questions

What did prosecutors ask Ibama to do?

The Federal Public Ministry gave Ibama five days from 17 August. It wants information, justifications and documents on three more exploratory wells.

Has Petrobras made a commercial oil discovery there?

No. Petrobras said it identified hydrocarbons at the Morpho well. It added that this does not establish the size of any accumulation or whether it is commercially viable.

How many wells are licensed?

Ibama says the file for block FZA-M-59 anticipates four wells, one main and three contingent. The operating licence issued in October 2025 covers only the main well, Morpho.

Where exactly is the well?

In block FZA-M-59 off the coast of Amapá, about 175 kilometres from shore. The water there is 2,886 metres deep, at the mouth of the Amazon.

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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

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