& Tobago

Very usefull links


News links




Dow Jones

Oil price



Views and News




Brazil should have seat in OPEC -Barkindo

Ryad Kramdi/AFP

Opec outlook hazy. The group's demand forecasts don't gibe with reality. -Liam Denning

- Brazil 'most welcome' to join, says OPEC chief
Brazilian oil output has surpassed 3 mil b/d since Aug

By Herman Wang and Eklavya Gupte / Platts

Petroleumworld 11 07 2019

Brazil deserves to have a seat in OPEC due to its importance as a key oil producer and exporter, the organization's secretary general said Tuesday.

OPEC's Mohammad Barkindo said Brazil would be "most welcome" in the producer group, after the President Jair Bolsonaro said last week that he was keen for his country to join OPEC.

"Brazil is a very important producer. They deserve to have a seat within OPEC as a major producer and exporter," Barkindo said at a press briefing in Vienna after OPEC released it World Energy Outlook report.

Barkindo did, however, say that OPEC had not yet received an official application from Latin America's largest oil and natural gas producer Last week, at the Future Investment Initiative in Riyadh, Bolsonaro expressed his interest in joining OPEC and some consultations were arranged with Saudi Arabian energy officials to discuss the potential membership.

Saudi Arabia, is the largest oil producer within OPEC, and is seen as the de facto leader of the group.

Brazil's Mines and Energy Minister Bento Albuquerque also said the government was planning to hold meetings this week to discuss the country potentially joining OPEC.

Brazil, which has long-term commercial ties to countries in the Middle East, was previously invited to join OPEC by Iran during the administration of former President Luiz Inacio Lula da Silva. Talks never advanced beyond the preliminary stages. Brazil, however, has participated in open OPEC production discussions, including sending a delegation to attend talks in Algiers in August 2016.


Oil production in Brazil has been growing rapidly due to the startup of seven new production units started up since last year.

Crude output averaged 3.05 million b/d in August, according to the International Energy Agency, compared with 2018's average of 2.71 million b/d The IEA expects Brazilian output to jump to 3.22 million b/d in 2019.

Brazil's possible inclusion in OPEC has generated concerns about the impact future production limits or quotas could have on interest in upcoming bid rounds, with two important sales of subsalt acreage scheduled for next week.

Brazil's National Petroleum Agency, or ANP, will sell rights to develop 5.2 billion-15.1 billion barrels of oil equivalent discovered by state-led oil company Petrobras in the transfer-of-rights areas this week, with the country's sixth subsalt production-sharing auction that includes five additional exploration blocks set for Thursday.

Brazil also has annual bid rounds and subsalt production-sharing auctions scheduled for 2020 and 2021.

Story by Herman Wang and Eklavya Gupte from SPGlobal Platts.
/ 11 06 2019


We invite you to join us as a sponsor.

Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.


Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions as the source.

Other stories you have to get authorization by its authors. Internet web links to are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article

Write to

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to:

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1



Editor & Publisher: Elio Ohep/
Contact Email:

CopyRight © 1999-2019, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld   / Elio Ohep - All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.