The Brazilian government approved on Tuesday to join Opec+, a group of important oil export nations, which signals the development of the country only nine months before the annual climate summit of the United Nations.
The approval of the National Council for Energy Policy came in response to an official invitation in 2023. The group comprises the 12 members of the Opec, the long -term group, which was set up to coordinate oil production to stabilize markets, plus 10 more important oil production nations. The largest with Russia.
Although non-OPEC members agree to work with Opec nations, Brazil has no binding obligation such as production cuts, said mines and Minister of Energy Alexandre Silveira at a press conference.
Participation is limited to the Charter of Cooperation, a constant forum for Opec and Opec+ countries to discuss industry -related topics. The South American country will not take part in decisions.
Silveira only called the Charter “a forum for the discussion of strategies in oil producer countries. We should not be ashamed of being oil producers. Brazil has to grow, to incurred and create jobs.”
Lula approves the holes near Amazon River
President Luiz Inacio Lula da Silva began his third term in 2023 as a environmental defender and has worked on reducing the deforestation in the Amazon rainforest and protecting the rights of the indigenous people. However, he also argued that new oil revenue could finance a transition to green energy.
In the past few weeks, he has pushed the country’s environmental regulatory authority to approve exploratory boreholes near the mouth of the Amazon River, one of the most organic regions in the world.
With around 4.3 million barrels, Brazil is daily or four percent of the world’s world’s largest oil producer in the world. In 2024, crude oil became the top export product of the country and made 13.3 percent of the foreign sales of Brazil and exaggerated soy.
Living costs9:34Should Canada take a page from Opec?
Almost all four barrels of oil that were refined in the USA comes from Canada. And despite the big conversation, it would be really difficult for her without living. How do we use that? The economist Kent Fellows says we should follow Opecs Playbook – simply switch on and off the taps when we feel like it.
The United States is the world’s largest producer with almost 22 million barrels a day. Saudi Arabia, the largest producer in Opec, at around 11 million barrels.
The striving for Lula after more oil production fulfilled the criticism because Brazil is preparing to organize the UN climate summit in November as Cop30. A central increase in the annual climate talks was to reduce the use of fossil fuels that are published in the burning of greenhouse gases that heat the planet.
“Brazil’s entry to an Opec body is another sign of the government’s setback,” says Suey Araujo, spokeswoman for the climate observatory, a network of 133 environmental, civil society and academic groups.
The opening of new areas for exploring fossil fuels “shows that in view of a major challenge for the present and the future, we choose solutions from the past,” said Araujo.
