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.
Fears of wider escalation grow despite President Donald Trump saying U.S. strikes on Iran could end within weeks. Meanwhile ...
NATO Secretary-General Mark Rutte will visit Washington next week for what a spokesperson for the military...
President Donald Trump staunchly defended his handling of the month-old U.S.-Israeli war on Iran in a prime-time addr...
An earthquake of magnitude 7.6 struck in Indonesia's Northern Molucca Sea on Thursday, killing on...
Four astronauts blasted off from Florida on Wednesday on NASA's Artemis II mission, a high-stakes voyage ar...
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 death toll from heavy rains and flooding in Brazil’s Minas Gerais state has risen to 46, authorities said, with 21 people still reported missing. The storms triggered landslides and widespread flooding, displacing thousands across Juiz de Fora and Uba.
Brazilian President Luiz Inácio Lula da Silva has said he will urge U.S. President Donald Trump to avoid a "new Cold War" when the two leaders meet in Washington next month.
The Iran-U.S.-Israel conflict is intensifying, with fresh strikes near Tehran, European calls for restraint, and Iran threatening to target U.S. firms in the region, raising fears of a broader escalation across the Middle East.
There are fears of an oil spill after a drone strike hit a Kuwaiti oil tanker near Dubai on Tuesday, while U.S.-Israeli strikes in Iran reportedly killed at least two people. A loud explosion was heard in Beirut in southern Lebanon early Wednesday, as oil prices climbed above $100 a barrel.
China's three largest state-owned airlines have issued warnings regarding their financial outlook for the current year, acknowledging that the eruption of war involving Iran has driven jet fuel prices to unsustainable highs.
Russian-flagged tanker carrying approximately 700,000 barrels of crude oil docked at Cuba's Matanzas oil terminal on Tuesday, shipping data confirmed, marking a vital and controversial delivery to an island paralysed by severe energy shortages and a suffocating U.S. blockade.
A Russian military An-26 aircraft has crashed in Crimea, killing all 30 people on board, Russia’s Defence Ministry has confirmed.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
Japan and Indonesia will deepen coordination on energy security, Tokyo said, as the U.S.-Israeli war on Iran disrupts vital oil and gas flows to Asia.
China's three largest state-owned airlines have issued warnings regarding their financial outlook for the current year, acknowledging that the eruption of war involving Iran has driven jet fuel prices to unsustainable highs.
Stock markets across Asia fell on Monday as escalating conflict involving Iran drove oil prices sharply higher, fuelling fears of inflation and a potential global recession, with investors reacting to disruption risks in the Strait of Hormuz and prolonged hostilities.
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.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment