Brazilian President Lula confirmed in Dubai that his country will join OPEC+ with the aim of convincing the main oil-producing countries to prepare for an energy transition “without fossil fuels”.
The invitation to Brazil was announced during the meeting of” OPEC+”, an alliance consisting of 13 member countries of the organization of the Petroleum Exporting Countries (OPEC) and ten partner countries, including Russia.
“Brazil will not join OPEC,” Luiz Inacio Lula da Silva said during a roundtable at the UN cop28 climate conference in Dubai. Brazil will join the ” OPEC+”.
The Brazilian president continued: “It’s like when I’m invited to participate in the group of seven . I go there and listen. I speak only after they have made a decision. I don’t decide anything”. Last May, Lula was invited to participate in the group of Seven summit in Japan.
The head of the Brazilian Petrobras company, Jean-Paul Prats, said on Friday that Brazil should join OPEC+ as an “observer”, ruling out the possibility of his country adhering to the production quotas decided by the organization.
But Lula still intends to play a role in the ongoing discussions on the energy transition. “It is important to participate in OPEC+, because we have to convince the major oil-producing countries of the need to prepare for the end of fossil fuels, “he said.
Brazil, Latin America’s largest producer with vast offshore reserves, recorded crude oil production of 3.7 million barrels per day in September, according to Argos Group data, an increase of almost 17% over one year, a “record high”.
