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LATIN AMERICA ADVISOR

Energy ADVISOR

A weekly publication Of the dialogue

September 4, 2026

Will Amazon Oil Strengthen Brazil’s Energy Future?

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Brazil’s Petrobras detected hydrocarbons near the mouth of the Amazon River, with preliminary estimates suggesting up to 10 billion barrels of oil. An oil pumping platform in Brazil’s Amazon rain forest is pictured. // File Photo: pangamedia via Adobe Stock.

Q

  • Brazilian state oil company Petrobras announced on Aug. 14 that it had detected hydrocarbons in the Equatorial Margin near the mouth of the Amazon River, a basin that preliminary estimates suggest could hold as much as 10 billion barrels of oil, worth some 3.8 trillion reais ($720 billion). President Luiz Inácio Lula da Silva called the find a “passport to the country’s future” while reaffirming Brazil’s commitment to a “sustainable energy transition” and its role as a leader in biofuels and renewables. What economic and strategic weight could Equatorial Margin oil carry for Brazil given the timeline to commercial production? How likely is litigation from environmental and Indigenous groups against the government and Petrobras over the licensing process to succeed? How does Lula reconcile this push for new offshore drilling with Brazil’s climate diplomacy and its stated commitment to phasing down fossil fuels?

A

Featured Expert Commentary:

Jeremy M. Martin and Amanda de SouzaMember of the Energy Advisor board and vice president of the Energy Institute of the Americas, and graduate student at UC San Diego’s School of Global Policy & Strategy
Valeria Daza Cajigal and Mario LimaHead of upstream, and analyst for Latin America macro research, both at Energy Aspects
Beatrice RangelManaging director of AMLA Consulting in Miami Beach
Cleveland M. JonesPresident of the Instituto Philippe Guédon de Gestão Participativa and the Academia Brasileira Ambientalista de Letras (ABAL)

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Top News

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ABOUT THE Energy ADVISOR

Published weekly, the Energy Advisor provides critical reporting on developments shaping the energy sector across the Americas. Coverage focuses on oil and gas, the power sector, renewables and biofuels, critical mineral supply chains, as well as regulatory and technological changes affecting the energy transition. It examines how energy developments influence regional economies, geopolitics, and investment decisions. As with the daily Advisor, the Energy Advisor includes a Featured Q&A from practitioners across the Hemisphere.

The Energy Advisor has two companion publications, the Latin America Advisor and the Financial Services Advisor. 

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Merike Blofield
Professor of Political Science,
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Joyce Chang
Global Head of Research,
J.P. Morgan

Marlene Fernández
Corporate Vice President for Government Relations, Arcos Dorados

Peter Hakim
President Emeritus,
Inter-American Dialogue

Donna Hrinak
Director,
Adtalem Global Education

Jon E. Huenemann
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GLG Inc.

James R. Jones
Chairman,
Monarch Global Strategies

Craig Kelly
Senior Director,
Int’l Gov’t Relations,
Exxon Mobil

John Maisto
Director,
US Education Finance Group

Nicolas Mariscal
Chairman,
Grupo Marhnos

Thomas F. McLarty III
Chairman,
McLarty Associates

Ernesto Revilla
Head of Latin American Economics, Citi

Gustavo Roosen
President,
IESA

Andrés Rozental
President, Rozental &
Asociados

SUBSCRIPTION RATES

The Advisor serves a range of audiences spanning Fortune 500 companies to individual readers. If you are an academic institution, nonprofit organization, or individual reader please reach out to Development and Partnerships Manager, David Mauer, for discounted subscription pricing.

Industry subscribers – the following annual pricing covers up to five readers in subscribing organization, please reach out to David Mauer for information on subscriptions including additional readers.

$3,500
The Latin America Advisor
$500
Archive access
$500
Each additional newsletter – the Energy Advisor and the Financial Services Advisor

Members of the Dialogue’s Corporate Program receive unlimited access to the Advisor publications and archive access. To learn more about the benefits of the Corporate Program, please reach out to David Mauer.

Advisor Subscription Rates
Program one-pager

Board of Advisors

Nigel Blackaby
Global Head, International Arbitration Group, Freshfields Bruckhaus Deringer

Alfonso Blanco
Program Director, Energy Transition & Climate, Inter-American Dialogue

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

Analia Gonzalez
Leader, Arbitration & Litigation,
Latin America, BakerHostetler

Raul Herrera
Partner, Corporate &
Securities Practice, Arnold & Porter

James R. Jones
Chairman,
Monarch Global Strategies

Jasper Jung
Executive Director, Global Strategic Initiatives, General Motors

Jorge Kamine
Partner, Corporate &
Financial Services, Willkie Farr & Gallagher

Craig A. Kelly
Senior Director,
Int’l Government Relations, Exxon Mobil

Jeremy Martin
Vice President, Energy & Sustainability,
Institute of the Americas

Martin Menski
Partner,
White & Case

Larry Pascal
Chairman, Americas
Practice Group, Haynes Boone

Mariana Sánchez Ramírez
Latin America Policy Advisor,
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