Armed men on motorbikes kill 11, kidnap 70 in Nigeria
At least 11 people were killed and more than 70 others, including women and children, were kidnapped by armed men on motorbikes in Sabongarin Damri, a...
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.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Tesla has granted Elon Musk a $29 billion share award as part of a new compensation plan to retain him as CEO while the company shifts focus from electric cars to robotaxis and AI. The move revives elements of a controversial 2018 package previously struck down by a Delaware court.
OPEC+ will increase oil production by 547,000 barrels per day in September after eight members of the organisation held a brief virtual meeting on Sunday. They said the company will continue to accelerate its output hikes to regain market share.
McDonald's plans to significantly expand its investments in artificial intelligence by 2027, with India expected to play a central role in data governance, engineering, and platform development, a senior executive said on Friday.
U.S. President Donald Trump has sharply criticised Federal Reserve Chair Jerome Powell following the central bank’s decision to keep interest rates unchanged.
Microsoft’s market capitalization surpassed $4 trillion in after-hours trading on Wednesday following a stronger-than-expected earnings report for its fiscal fourth quarter, driven by robust growth in its cloud business.
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