Brazil’s environmental authority said it will review Petrobras’s request to drill its first well at an offshore oil frontier known as the Equatorial Margin. Ibama, as the agency is known, blocked on May 18 Petroleo Brasileiro SA’s exploration plan in Foz do Amazonas, an area of northeastern Brazil known for coral reefs and marine wildlife, delivering a major setback to the state-controlled oil company. Ibama cited the social and environmental sensitivity of the biologically diverse region. Petrobras appealed and Ibama will review changes proposed in the new request, the agency said in a statement Saturday. While ... (full story)