Brazil to Join OPEC+: Pietro Mendes Confirms Country's Intention to Cooperate on Oil, Gas, and Renewables
Brazil's Secretary of Oil, Gas and Biofuels, Pietro Mendes, announced on Monday that Brazil is joining the OPEC+ alliance during a session at the World Economic Forum in Riyadh.
Brazil is the ninth largest oil producer globally, producing 3.25 million barrels per day.
Mendes explained that Brazil aims to create cooperation within OPEC+ to recognize various solutions for energy production and emissions reduction, as Brazil continues to produce oil and gas while increasing its reliance on renewable energies.
Mendes highlighted the significance of South-South cooperation and mentioned Brazil's collaborations with Egypt and Saudi Arabia.
They are working together on initiatives in biofuels and technology, specifically artificial intelligence, to decrease carbon emissions.