https://www.live-feeds.com/feed/brazil-s-president-lula-hails-oil-discovery-near-amazon-riverContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/brazil-s-president-lula-hails-oil-discovery-near-amazon-riverhttps://www.live-feeds.com/feed/brazil-s-president-lula-hails-oil-discovery-near-amazon-river#u45285Wed, 19 Aug 2026 19:50:52 +0000Brazil's President Lula has welcomed the discovery of oil near the Amazon river, calling it a 'passport to Brazil's future'. The discovery was made by Petrobras at the Morpho prospect in the Foz do Amazonas Basin. This find has sparked both excitement and concern about the potential environmental impact. The area is a sensitive ecosystem and home to indigenous communities.Why it mattersThe Amazon region is a vital part of the global ecosystem, producing about 20% of the world's oxygen and supporting immense biodiversity. Oil extraction in this area has been a contentio