Brasília, Brazil, February 18, 2025 – Brazil’s government has approved joining OPEC+, a group of major oil-exporting nations, signaling a significant step in the country’s evolution into a prominent oil state.
The decision comes just nine months ahead of Brazil hosting the United Nations’ annual climate summit.
The National Council for Energy Policy granted approval in response to an official invitation received in 2023. OPEC+ comprises the 12 members of OPEC alongside 10 additional key oil-producing nations, with Russia being the largest among them. However, Brazil’s participation will be limited to the Charter of Cooperation—a permanent forum for discussion—without binding obligations such as production cuts.
“At this stage, our involvement is strictly as a forum for discussing strategies among oil-producing countries,” said Mines and Energy Minister Alexandre Silveira at a news conference. “We should not be ashamed of being oil producers. Brazil needs to grow, develop, and create income and jobs.”
Under the Charter of Cooperation, Brazil will be able to engage in dialogue with other members on industry-related issues but will not participate in decision-making processes regarding production policies. The move reflects Brazil’s broader objective to balance its economic growth and energy development with its commitments to environmental and climate-related initiatives.
As Brazil positions itself within the framework of OPEC+, industry analysts will be watching to see how this step impacts the country’s oil sector and broader economic strategy ahead of the upcoming UN climate summit.
Australian activists released from Israeli custody after being detained on a flotilla trying to deliver aid to Gaza have claimed they were subject to ...
A Washington and Tehran peace agreement is yet to materialise after U.S. President Donald Trump said a deal between the countries was yet to be fully...
A "largely negotiated" memorandum of understanding on an Iran peace deal would reopen the Strait of Hormuz, U.S. President Donald Trump said on Saturd...
Azerbaijan has made a notable appearance at one of the world’s most prestigious equestrian events, with a large delegation participating in the CHIO...
More than 900 suspected cases of Ebola have been identified, including 101 confirmed cases, World Health Organization (WHO) Director-General Tedros A...
Brazilian activist Thiago Avila returned to Brazil late Monday (11 May) after being deported from Israel. He alleges he was tortured and mistreated during 10 days in detention following the interception of a pro-Palestinian aid flotilla attempting to reach Gaza.
A shooting at a school in northwestern Brazil on Tuesday (5 May) has left two staff members dead and several others injured, including a student, in the latest incident of violence to hit the country’s education system.
World Trade Organization (WTO) talks broke up with no agreement on Monday on a plan for reform or even on extending a moratorium on e-commerce, piling more pressure on the trade body that finds itself increasingly sidelined by economic nationalism.
Brazil’s Chamber of Deputies has approved an historic free trade agreement between Mercosur and the European Union, moving the long-delayed pact closer to implementation.
The inaugural Enhanced Games began in Las Vegas on Sunday (24 May), launching one of the most controversial experiments in modern sport, in which athletes openly compete using performance-enhancing drugs banned under traditional anti-doping rules.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 23rd May, covering the latest developments you need to know.
China has revised the number of dead following a gas explosion at a coal mine in northern China, from 90 to 82, in what is the country's deadliest mining accident in 17 years.
A "largely negotiated" memorandum of understanding on an Iran peace deal would reopen the Strait of Hormuz, U.S. President Donald Trump said on Saturday, though the Iranian Fars news agency disputed that claim.
Police fired tear gas and clashed with protesters in central Belgrade on Saturday, as tens of thousands gathered to demand early elections and an end to the more than decade-long rule of Serbia's President Aleksandar Vučić.
Kevin Warsh will be sworn in as chair of the U.S. Federal Reserve on Friday as policymakers consider higher interest rates to tackle inflation linked to the Trump administration’s Iran policy.
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing fears of damage to South Korea's economy and global chip supply.
Asian stocks surged on Thursday as some vessels resumed passage through the Strait of Hormuz, while forecast-beating results at Nvidia and a suspended workers' strike at Samsung Electronics lifted shares of chipmakers.
Elon Musk’s SpaceX will have to improve its reliability before receiving approval for its target 10,000 launches annually within five years, Bryan Bedford, Head of the U.S. civil aviation agency, the Federal Aviation Administration (FAA), has said.
Demand for electric vehicles has surged across Europe as elevated fuel prices linked to the Iran conflict push consumers toward new and second-hand EVs, according to data shared with Reuters. It is providing a boost to an auto industry that has struggled with slower-than-expected adoption.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment