Petrobras confirms oil off the Amapá coast but cannot yet estimate the volume

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Lula, who attended the event, highlighted the significance of the find for the country's future oil production but said it does not alter Brazil's strategy on renewable energyhttps://en.mercopress.com/data/cache/noticias/111183/100x80/hp9dstoxsaay75y.jpg" style="float: left; margin: 0 12px 6px 0; border: 1px solid #333;" width="100" />
Brazil's state-controlled Petrobras confirmed on Monday the presence of oil in the Morpho exploratory well, located in ultra-deep waters off the northern state of Amapá, in the Foz do Amazonas basin.

The company cautioned that it cannot yet estimate the volume found or the viability of commercial production.

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