https://arab.news/g28ut
- Mendes stressed the importance of South-South cooperation, noting his country’s relationship with Egypt and Saudi Arabia
RIYADH: Pietro Mendes, Secretary of Oil, Gas and Biofuels at Brazil’s Ministry of Mines and Energy, confirmed on Monday that his country is on its way to joining the OPEC+ alliance.
Mendes’ announcement came during his participation in a session titled “Energy Demand: Transforming Costs into Profits” during the special meeting of the World Economic Forum held in Riyadh.
Brazil ranks ninth in the world in oil production at 3.25 million barrels per day.
“Brazil is joining OPEC+. So, the idea is to create cooperation because there (are) differences between regions and we don’t have just one single solution that comes from us or a union; we need to recognize all the solutions,” the Brazilian official said, adding while his country continues to produce oil and gas, it is simultaneously increasing reliance on renewable energies and adopting solutions to reduce emissions.
Mendes stressed the importance of South-South cooperation, noting his country’s relationship with Egypt and Saudi Arabia, where several initiatives are being developed for cooperation in biofuels and technology, including artificial intelligence, is being adopted to reduce carbon emissions.