Brazil's plans to drill for oil in the Amazon hit stiff Indigenous resistance [Yahoo! Finance]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Yahoo! Finance
A drone view shows the Uaha village on the Jumina indigenous land, near the mouth of the Amazon in Oiapoque By Marta Nogueira and Fabio Teixeira OIAPOQUE, Brazil (Reuters) - State-run energy firm Petrobras has hit growing resistance from Indigenous groups and government agencies to its premier exploration project, which would open the most promising part of Brazil's northern coast to oil drilling. Environmental agency Ibama denied Petrobras a license for exploratory drilling offshore in the Foz do Amazonas area last year, citing possible impacts on Indigenous groups and the sensitive coastal biome. But a Petrobras appeal for Ibama to reverse its decision has drawn powerful political backing. President Luiz Inacio Lula da Silva said in September that Brazil should be able to “research” the region's potential resources, given the national interest. Energy Minister Alexandre Silveira last week told journalists that it is “Brazil's right to know the potential” of the offshore fie
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