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Kuwait Times
a day ago
- Business
- Kuwait Times
Brazil sells rights to oil, gas blocks near Amazon river mouth
RIO DE JANEIRO: Manoki Indigenous people take part in a demonstration in front of the hotel where an auction organized by Brazil's Oil and Gas Regulatory Agency (ANP) is taking place, in Rio de Janeiro, Brazil, on June 17, 2025. - AFP RIO DE JANEIRO: Brazil sold extraction rights to 19 oil and gas blocks near the mouth of the Amazon river Tuesday, at an auction slammed by environmentalists months before the country is to host a UN climate summit. Two consortiums - one comprising Brazil's state-owned Petrobras and US giant ExxonMobil, the other US multinational Chevron and China's CNPC - spent $153 million on exploration and production concessions for 19 blocks on offer in an area considered vulnerable to environmental harm. They are among 172 blocks, most of them offshore, that went on auction Tuesday as dozens of protesters gathered outside the venue under a banner reading: 'Stop the doomsday auctions.' Green groups have expressed particular concern over 47 blocks in the Atlantic, in an area near the mouth of the Amazon River that flows through the world's largest carbon-capturing tropical rainforest. The first 19 blocks to which rights were sold were part of these 47. In all, 34 blocks found takers at the auction, bringing in about $180 million for the state. Investments of more than $260 million are planned for exploration. Already Latin America's biggest oil and gas producer, Brazil is seeking to increase production from 4.68 million to 5.3 million barrels per day by 2030. At the same time, the country has pledged to reduce its emissions of planet-warming greenhouse gas emissions to 1.2 billion tons of CO2 equivalent (CO2e). By 2050, it is seeking to reach neutrality - meaning emissions do not exceed the amount captured, by forests, for example. Brazil's ClimaInfo research institute had estimated that the 172 blocks placed on auction would emit some 11.1 billion tons of CO2e. Leftist President Luiz Inacio Lula da Silva, seeking to position himself as a leader in the fight against climate change, supported the auction that will see the successful bidders pay royalties on whatever oil and natural gas they eventually do extract. 'If this wealth exists, we cannot ignore it, as it will help us to make the energy transition and secure funds to preserve our forests,' Lula declared in February. 'We must act responsibly. I do not want oil exploration to cause any harm to the environment,' he added. Before they can start exploration, the companies must obtain a drilling license from environment oversight body Ibama. The Climate Action Tracker has said Brazil 'is not on track' to meet its emissions targets and needed to 'peak and rapidly decrease emissions' if the world is to succeed in limiting global warming to 1.5 degrees Celsius. The auction went ahead despite Brazil's Federal Public Ministry, an independent rights-monitoring body set up under the Brazilian constitution, calling for it to be suspended pending 'adequate studies' on the potential impact of exploration. 'Brazil is missing an opportunity to be a leader in decarbonization and environmental protection,' Suely Araujo, a former president of Ibama and coordinator of the Climate Observatory NGO said ahead of Tuesday's auction. And the WWF's Brazil branch said the country 'already has enough oil reserves to meet its internal demand' while gradually transitioning to a greener energy mix. 'The climate crisis requires bold decisions and public policies focused on the future, not the past,' it added. Brazil will host the UN climate conference called COP30 in November in the Amazonian city of Belem.- AFP
3 days ago
- Business
Brazil auctions off several Amazon oil sites despite environmentalists and Indigenous protests
BRASILANDIA, Brazil -- BRASILANDIA, Brazil (AP) — Brazil auctioned off several land and offshore potential oil sites near the Amazon River on Tuesday as it aims to expand production in untapped regions despite protests from environmental and Indigenous groups. The event came months before Brazil is to host the U.N.'s first climate talks held in the Amazon. The protesters outside Tuesday's venue warned of potential risks that oil drilling poses to sensitive ecosystems and Indigenous communities in the Amazon. A luxury Rio de Janeiro hotel hosted the auction conducted by the National Oil Agency. Most of the 172 oil blocks for sale are located in areas with no current production, such as 47 offshore locations close to the mouth of the Amazon River and two sites inland in the Amazon near Indigenous territories. Nineteen offshore blocks were awarded to Chevron, ExxonMobil, Petrobras and CNPC. The oil companies see the area as highly promising because it shares geological characteristics with Guyana, where some of the largest offshore oil discoveries of the 21st century have been made. This region is considered to have high potential risk due to strong currents and the proximity to the Amazon seashore. Under public pressure from President Luiz Inácio Lula da Silva, the Brazilian Institute of the Environment and Renewable Natural Resources, known as IBAMA, approved an emergency plan allowing state-run Petrobras to conduct exploratory drilling in a block near the mouth of the Amazon River, the last step to grant an environmental license. 'It's regrettable and concerning that blocks are being acquired in a basin that has not yet received environmental licensing,' Nicole Oliveira, executive director of the environmental nonprofit Arayara, which tried to block the auction in court. 'This is an irresponsible move by the National Oil Agency and a very risky one for the companies involved," Oliveira told The Associated Press. "We will continue litigating to prevent the contracts from being signed and the blocks from being explored.' The auction wrapped up with only 34 oil blocks awarded. Brazil´s oil agency noted that the signing bonuses — one-time payments made by the winning companies — totaled $180 million, a record for auctions of this kind. An agency representative said the highest premium was for a block located near the mouth of the Amazon River, which drew a nearly 3,000% markup. Oliveira took part in a peaceful protest that gathered about 200 people outside the auction site, from environmentalists to Indigenous leaders. 'We came to Rio to repudiate the auction,' said Giovane Tapura of the Manoki, an Amazon tribe. 'We would have liked to be consulted and to see studies on how the oil drilling could affect us. None of this has been done.' In a recorded opening statement at the start of the event, Brazil's National Oil Agency said the auctions are part of the country's energy diversification strategy aimed at transitioning to a low-carbon economy and that contracts signed with the winning companies include measures to reduce carbon intensity in production activities, as well as mandatory investments in energy transition projects. Brazil has increased crude oil production, which became the country's top export for the first time last year, surpassing soybeans. The auction is part of the federal government's goal to maintain and even expand output beyond 2030, when production from current oil blocks under exploration is expected to decline. Brazil gets most of its electricity from hydropower and other green energies. The U.N. climate talks will be held in the city of Belem, close to the mouth of the Amazon. Critics say it's a contradiction that Brazil's president is pushing for increased fossil fuel production while trying to cast himself as an environmental champion. Claudio Angelo, head of international policy at Climate Observatory, a coalition of 133 environmental, civil society and academic organizations, told reporters ahead of the auction that Brazil is both undermining its own standing ahead of the climate talks and undermining climate protection efforts. 'The Brazilian government is endangering everyone's future since science has been crystal clear about the need to stop the expansion of fossil fuels everywhere in the world," he said. ___ ___
Mint
3 days ago
- Business
- Mint
Brazil auctions off several Amazon oil sites despite environmentalists, Indigenous protests
Brasilandia (Brazil) Jun 18 (AP) Brazil auctioned off several land and offshore potential oil sites near the Amazon River on Tuesday as it aims to expand production in untapped regions despite protests from environmental and Indigenous groups. The event came months before Brazil is to host the UN's first climate talks held in the Amazon. The protesters outside Tuesday's venue warned of potential risks that oil drilling poses to sensitive ecosystems and Indigenous communities in the Amazon. A luxury Rio de Janeiro hotel hosted the auction conducted by the National Oil Agency. Most of the 172 oil blocks for sale are located in areas with no current production, such as 47 offshore locations close to the mouth of the Amazon River and two sites inland in the Amazon near Indigenous territories. Nineteen offshore blocks were awarded to Chevron, ExxonMobil, Petrobras and CNPC. The oil companies see the area as highly promising because it shares geological characteristics with Guyana, where some of the largest offshore oil discoveries of the 21st century have been made. This region is considered to have high potential risk due to strong currents and the proximity to the Amazon seashore. Under public pressure from President Luiz Inácio Lula da Silva, the Brazilian Institute of the Environment and Renewable Natural Resources, known as IBAMA, approved an emergency plan allowing state-run Petrobras to conduct exploratory drilling in a block near the mouth of the Amazon River, the last step to grant an environmental license. 'It's regrettable and concerning that blocks are being acquired in a basin that has not yet received environmental licensing,' Nicole Oliveira, executive director of the environmental nonprofit Arayara, which tried to block the auction in court. 'This is an irresponsible move by the National Oil Agency and a very risky one for the companies involved," Oliveira told The Associated Press. "We will continue litigating to prevent the contracts from being signed and the blocks from being explored.' The auction wrapped up with only 34 oil blocks awarded. Brazil´s oil agency noted that the signing bonuses — one-time payments made by the winning companies — totaled USD 180 million, a record for auctions of this kind. An agency representative said the highest premium was for a block located near the mouth of the Amazon River, which drew a nearly 3,000 per cent markup. Oliveira took part in a peaceful protest that gathered about 200 people outside the auction site, from environmentalists to Indigenous leaders. 'We came to Rio to repudiate the auction,' said Giovane Tapura of the Manoki, an Amazon tribe. 'We would have liked to be consulted and to see studies on how the oil drilling could affect us. None of this has been done.' In a recorded opening statement at the start of the event, Brazil's National Oil Agency said the auctions are part of the country's energy diversification strategy aimed at transitioning to a low-carbon economy and that contracts signed with the winning companies include measures to reduce carbon intensity in production activities, as well as mandatory investments in energy transition projects. Brazil has increased crude oil production, which became the country's top export for the first time last year, surpassing soybeans. The auction is part of the federal government's goal to maintain and even expand output beyond 2030, when production from current oil blocks under exploration is expected to decline. Brazil gets most of its electricity from hydropower and other green energies. The UN climate talks will be held in the city of Belem, close to the mouth of the Amazon. Critics say it's a contradiction that Brazil's president is pushing for increased fossil fuel production while trying to cast himself as an environmental champion. Claudio Angelo, head of international policy at Climate Observatory, a coalition of 133 environmental, civil society and academic organisations, told reporters ahead of the auction that Brazil is both undermining its own standing ahead of the climate talks and undermining climate protection efforts.
Winnipeg Free Press
3 days ago
- Business
- Winnipeg Free Press
Brazil auctions off several Amazon oil sites despite environmentalists and Indigenous protests
BRASILANDIA, Brazil (AP) — Brazil auctioned off several land and offshore potential oil sites near the Amazon River on Tuesday as it aims to expand production in untapped regions despite protests from environmental and Indigenous groups. The event came months before Brazil is to host the U.N.'s first climate talks held in the Amazon. The protesters outside Tuesday's venue warned of potential risks that oil drilling poses to sensitive ecosystems and Indigenous communities in the Amazon. A luxury Rio de Janeiro hotel hosted the auction conducted by the National Oil Agency. Most of the 172 oil blocks for sale are located in areas with no current production, such as 47 offshore locations close to the mouth of the Amazon River and two sites inland in the Amazon near Indigenous territories. Nineteen offshore blocks were awarded to Chevron, ExxonMobil, Petrobras and CNPC. The oil companies see the area as highly promising because it shares geological characteristics with Guyana, where some of the largest offshore oil discoveries of the 21st century have been made. This region is considered to have high potential risk due to strong currents and the proximity to the Amazon seashore. Under public pressure from President Luiz Inácio Lula da Silva, the Brazilian Institute of the Environment and Renewable Natural Resources, known as IBAMA, approved an emergency plan allowing state-run Petrobras to conduct exploratory drilling in a block near the mouth of the Amazon River, the last step to grant an environmental license. 'It's regrettable and concerning that blocks are being acquired in a basin that has not yet received environmental licensing,' Nicole Oliveira, executive director of the environmental nonprofit Arayara, which tried to block the auction in court. 'This is an irresponsible move by the National Oil Agency and a very risky one for the companies involved,' Oliveira told The Associated Press. 'We will continue litigating to prevent the contracts from being signed and the blocks from being explored.' The auction wrapped up with only 34 oil blocks awarded. Still, Oliveira noted that the signing bonuses — one-time payments made by the winning companies — totaled $180 million, a record for auctions of this kind. She said the highest premium was for a block located near the mouth of the Amazon River, which drew a nearly 3,000% markup. Oliveira took part in a peaceful protest that gathered about 200 people outside the auction site, from environmentalists to Indigenous leaders. 'We came to Rio to repudiate the auction,' said Giovane Tapura of the Manoki, an Amazon tribe. 'We would have liked to be consulted and to see studies on how the oil drilling could affect us. None of this has been done.' In a recorded opening statement at the start of the event, Brazil's National Oil Agency said the auctions are part of the country's energy diversification strategy aimed at transitioning to a low-carbon economy and that contracts signed with the winning companies include measures to reduce carbon intensity in production activities, as well as mandatory investments in energy transition projects. Brazil has increased crude oil production, which became the country's top export for the first time last year, surpassing soybeans. The auction is part of the federal government's goal to maintain and even expand output beyond 2030, when production from current oil blocks under exploration is expected to decline. Brazil gets most of its electricity from hydropower and other green energies. The U.N. climate talks will be held in the city of Belem, close to the mouth of the Amazon. Critics say it's a contradiction that Brazil's president is pushing for increased fossil fuel production while trying to cast himself as an environmental champion. Claudio Angelo, head of international policy at Climate Observatory, a coalition of 133 environmental, civil society and academic organizations, told reporters ahead of the auction that Brazil is both undermining its own standing ahead of the climate talks and undermining climate protection efforts. Wednesdays Columnist Jen Zoratti looks at what's next in arts, life and pop culture. 'The Brazilian government is endangering everyone's future since science has been crystal clear about the need to stop the expansion of fossil fuels everywhere in the world,' he said. ___ AP journalist Diarlei Rodrigues contributed to this report from Rio de Janeiro. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
Yahoo
3 days ago
- Business
- Yahoo
Brazil auctions off several Amazon oil sites despite environmentalists and Indigenous protests
BRASILANDIA, Brazil (AP) — Brazil auctioned off several land and offshore potential oil sites near the Amazon River on Tuesday as it aims to expand production in untapped regions despite protests from environmental and Indigenous groups. The event came months before Brazil is to host the U.N.'s first climate talks held in the Amazon. The protesters outside Tuesday's venue warned of potential risks that oil drilling poses to sensitive ecosystems and Indigenous communities in the Amazon. A luxury Rio de Janeiro hotel hosted the auction conducted by the National Oil Agency. Most of the 172 oil blocks for sale are located in areas with no current production, such as 47 offshore locations close to the mouth of the Amazon River and two sites inland in the Amazon near Indigenous territories. Nineteen offshore blocks were awarded to Chevron, ExxonMobil, Petrobras and CNPC. The oil companies see the area as highly promising because it shares geological characteristics with Guyana, where some of the largest offshore oil discoveries of the 21st century have been made. This region is considered to have high potential risk due to strong currents and the proximity to the Amazon seashore. Under public pressure from President Luiz Inácio Lula da Silva, the Brazilian Institute of the Environment and Renewable Natural Resources, known as IBAMA, approved an emergency plan allowing state-run Petrobras to conduct exploratory drilling in a block near the mouth of the Amazon River, the last step to grant an environmental license. 'It's regrettable and concerning that blocks are being acquired in a basin that has not yet received environmental licensing,' Nicole Oliveira, executive director of the environmental nonprofit Arayara, which tried to block the auction in court. 'This is an irresponsible move by the National Oil Agency and a very risky one for the companies involved," Oliveira told The Associated Press. "We will continue litigating to prevent the contracts from being signed and the blocks from being explored.' The auction wrapped up with only 34 oil blocks awarded. Still, Oliveira noted that the signing bonuses — one-time payments made by the winning companies — totaled $180 million, a record for auctions of this kind. She said the highest premium was for a block located near the mouth of the Amazon River, which drew a nearly 3,000% markup. Oliveira took part in a peaceful protest that gathered about 200 people outside the auction site, from environmentalists to Indigenous leaders. 'We came to Rio to repudiate the auction,' said Giovane Tapura of the Manoki, an Amazon tribe. 'We would have liked to be consulted and to see studies on how the oil drilling could affect us. None of this has been done.' In a recorded opening statement at the start of the event, Brazil's National Oil Agency said the auctions are part of the country's energy diversification strategy aimed at transitioning to a low-carbon economy and that contracts signed with the winning companies include measures to reduce carbon intensity in production activities, as well as mandatory investments in energy transition projects. Brazil has increased crude oil production, which became the country's top export for the first time last year, surpassing soybeans. The auction is part of the federal government's goal to maintain and even expand output beyond 2030, when production from current oil blocks under exploration is expected to decline. Brazil gets most of its electricity from hydropower and other green energies. The U.N. climate talks will be held in the city of Belem, close to the mouth of the Amazon. Critics say it's a contradiction that Brazil's president is pushing for increased fossil fuel production while trying to cast himself as an environmental champion. Claudio Angelo, head of international policy at Climate Observatory, a coalition of 133 environmental, civil society and academic organizations, told reporters ahead of the auction that Brazil is both undermining its own standing ahead of the climate talks and undermining climate protection efforts. 'The Brazilian government is endangering everyone's future since science has been crystal clear about the need to stop the expansion of fossil fuels everywhere in the world," he said. ___ AP journalist Diarlei Rodrigues contributed to this report from Rio de Janeiro. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at Fabiano Maisonnave, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
