Brazil Set to Join OPEC+: Secretary of Oil, Gas and Biofuels Confirms
In a groundbreaking announcement, Pietro Mendes, Secretary of Oil, Gas and Biofuels at Brazil’s Ministry of Mines and Energy, revealed that Brazil is on the verge of becoming a member of the OPEC+ alliance.
During a session titled “Energy Demand: Transforming Costs into Profits” at the special meeting of the World Economic Forum in Riyadh, Mendes made this significant statement.
With an oil production ranking of ninth globally at 3.25 million barrels per day, Brazil’s decision to join OPEC+ marks a strategic move in the energy landscape.
Mendes emphasized the importance of cooperation between regions, recognizing the need for diverse solutions. While Brazil continues to focus on oil and gas production, the country is also ramping up efforts in renewable energies and emission reduction strategies.
Highlighting the significance of South-South cooperation, Mendes pointed to collaborative initiatives with Egypt and Saudi Arabia. These initiatives encompass biofuels and technology partnerships, with a focus on leveraging artificial intelligence to combat carbon emissions.