Brazil discovers oil near Amazon mouth — Lula calls it "passport to the future"

State oil company Petrobras announced last week the discovery of oil reserves off Brazil's north-eastern coast, near the mouth of the Amazon river. On Monday, President Luiz Inácio Lula da Silva described the find as a potential "passport to the future" for the country. The reserves are located in a strategically important area and could significantly boost Brazil's economy.