Brazilian Minister of Oil, Natural Gas and Biofuels, Pietro Mendes, said that his country – which ranks ninth in the world in oil production at 3.25 million barrels per day – is on its way to joining the “OPEC+” alliance, which includes the countries of the Organization of the Petroleum Exporting Countries and their allies among non-oil producers. The organization, led by Saudi Arabia and Russia.

This came during his participation in a session entitled “Demand for Energy… How to Convert Costs into Profits,” within the special meeting of the World Economic Forum, which was held over two days in Riyadh under the slogan “International Cooperation, Growth, and Energy for Development.”

The Brazilian minister indicated during his speech that carbon is the enemy, not fuel, and Brazil is working to produce oil and gas in line with increasing reliance on renewable energies and adopting solutions to reduce emissions, explaining that his speech is consistent with what the Saudi Energy Minister Prince Abdulaziz bin Salman said, in addition to UAE Minister of Energy and Infrastructure Suhail Al Mazrouei, during their participation in the forum sessions.

Mendez stressed cooperation with Egypt and Saudi Arabia and work on several initiatives for cooperation in the field of biofuels, in addition to reducing carbon emissions, including artificial intelligence.

It is worth noting that Brazil is seeking to join the OPEC+ alliance as an observer and not as a full member. The Brazilian Minister of Energy confirmed his country's decision to join the alliance without disclosing the nature and level of this joining.