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In a surprise to environmentalists and church leaders, Brazil's Lula revives plans for offshore oil drilling in Amazon basin

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.

Brazil's Petrobras Aproves Chambriard as New CEO

Ibovespa Falls for Sixth Consecutive Session Amid Fiscal and

The Ibovespa index closed down for the sixth straight session, falling 0.34% to 124,305.57 points. This marked a nearly

Brazil's 3R and Enauta to follow Petrobras into Foz do Amazonas exploration

The oil firm to be created from the merger of Brazil s 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.

New Petrobras CEO to Execute Investment Plan Without Surprises