Brazilian President Luiz Inácio Lula da Silva has welcomed the discovery of oil near the mouth of the Amazon river, describing it as potentially "a passport to the country's future". The find, announced by state oil company Petrobras, follows exploratory drilling that Lula controversially approved in the biodiverse Brazilian Equatorial Margin, a decision that drew heavy criticism from environmentalists concerned about the risk of spills devastating nearby reefs and coastal wetlands. The announcement comes as Lula seeks re-election in October and attempts to balance the economic appeal of oil development against environmental concerns.

The oil was found about 175km off the Amazon coast at a depth of nearly 2,900 metres, though the size of the field and whether extraction would be commercially viable remain unknown. Petrobras began deep-water drilling in the area in October 2025, just weeks before Brazil hosted the COP30 climate summit, prompting anger from environmentalists and, Lula noted, opposition from Europe. He insisted Brazil would not tolerate foreign "meddling" in the decision, while maintaining his commitment to eventually phasing out fossil fuels and expanding biofuel and renewable energy. The prospect of jobs has already drawn an influx of people to the nearby town of Oiapoque.