Brazil's President Lula hails oil discovery near Amazon river

The oil discovery was made in the sea about 175km (110 miles) off the Amazon coast but the size of the field is not yet clear.It is also still unknown whether extracting the oil, which is located at a depth of 2,886m (9,469ft), would be commercially viable. Conservationists have warned that the area where the exploratory drilling is taking place is very biodiverse.They fear that any accidents could threaten not just the nearby reefs but that currents could carry spilled oil to coastal wetlands teeming with wildlife. Lula has in the past rejected criticism by conservationists as "meddling" and on Monday he again said that he would not accept any foreign interference."This means national sovereignty. Any country which has oil of this quality won't allow anyone to butt in," he said.Petrobras started the exploratory deep-water drilling operation in the area in October 2025.The company's chief executive Magda Chambriard said that the discovery confirmed that Petrobras's "optimism" of finding oil in the Brazilian Equatorial Margin had been warranted. She added that the company was committed to "ensuring the country's energy security".President Lula has argued that oil revenues are needed...