Business: Brazil’s state oil company Petrobras has received permission for drilling for exploration purposes near the mouth of the Amazon River. This decision has been taken at a time when the United Nations Climate Conference (COP30) is going to be held in a few weeks. There will be discussion on reduction in the use of fossil fuels. As per the approval given on Monday, drilling will be done in FZA-M-059 block. This place is located 175 kilometers away from the coast of Amapá state. According to Petrobras, this drilling operation will last for five months and will not produce oil. This mining permission has been given by the Brazilian Environmental Institute (IBAMA), which works under the Ministry of Environment. Energy Minister Alexandre Silveira has welcomed the decision. He said the government will ensure drilling on international standards with environmental responsibility. It is noteworthy that in the month of June, Brazil had auctioned several land and offshore oil blocks near the Amazon region. The oil blocks were allocated to Chevron, ExxonMobil, Petrobras and China National Petroleum Corporation. Environmental activists and tribal groups have opposed the project. He says that the area where mining is to take place is environmentally sensitive due to strong ocean currents and being near the Amazon coast.