Brazil Seeks to Join OPEC+
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February 18, 2025 Hour: 12:55 pm
Following the discovery of massive oil reserves in the Atlantic, Brazil has established itself as one of the world’s major producers.
On Tuesday, Brazilian Energy Minister Alexandre Silveira announced that the government of Lula da Silva had decided to formalize Brazil’s accession to the Organization of the Petroleum Exporting Countries Plus (OPEC+).
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“It is a forum for discussing strategies among oil-producing countries, and Brazil should not feel ashamed of being an oil producer,” he said after a meeting of the National Energy Policy Council.
Silveira also announced that Brazil would formally begin the process of joining the International Renewable Energy Agency (IRENA), whose director, Italian Francesco La Camera, was in the country last week.
OPEC+ is an expanded arm of OPEC, and while its members participate in general policy discussions, they do not have voting power on strategic matters, such as setting production levels to control international prices.
Over the past two decades, following the discovery of massive oil reserves in the Atlantic, Brazil has established itself as one of the world’s major producers and, in recent years, has participated as a “guest” in the OPEC+ forum. The group formally invited Brazil to join in mid-2023.
The announcement of its full membership coincides with Brazil’s role as the host of the upcoming United Nations Climate Change Conference (COP30), which will take place in the Amazonian city of Belem at the end of this year.
The Lula administration’s strong push for fossil fuel exploitation, under the justification of securing resources to finance the energy transition, has faced sharp criticism from environmental organizations both domestically and internationally.
The most recent controversy stems from the government’s decision to move forward with feasibility studies on offshore oil reserves located about 500 kilometers from the mouth of the Amazon River.
teleSUR/ JF Source: EFE
