Environment Minister of Brazil Urges Imposed Limit on Oil Production

26 Dec, 2023

Environment Minister of Brazil Urges Imposed Limit on Oil Production

In Brazil, the environment minister advocates for reining in oil production and exploration, setting her at odds with the government's ambition to elevate the country as a major crude producer by 2029. Marina Silva highlighted the necessity for imposing limits on oil exploration, a stance she shared with the Financial Times.

Her remarks reveal the discord within President Luiz Inácio Lula da Silva's strategy, attempting to balance Brazil's environmental commitments in safeguarding the Amazon with its support for oil drilling to bolster the economy. Brazil's energy ministry targets a surge in output from 3 million to 5.4 million barrels per day by the decade's close.

Marina Silva, a prominent environmentalist, faces hurdles within the administration, particularly from entities like the energy ministry and Petrobras, keen on exploiting new offshore fields for increased crude production. This move positions Brazil to become the world's fourth-largest oil producer, ranking above nations like Iran, Canada, and Kuwait.

While committing to tripling renewable energy, Silva emphasized the necessity of discussing exploration limits to achieve these goals. Despite Brazil's bid to join Opec+ as an observer, concerns arise internationally, questioning its alignment with major oil exporters while advocating for environmental protection.

Brazil's energy minister defended the country's oil objectives, citing that oil revenues would fund the transition to green energy, dismissing contradictions. However, this focus on fossil fuels has invited skepticism, especially regarding Brazil's stance on global warming and environmental protection.

Silva reiterated the importance of energy transition alongside security, emphasizing sectoral goals beyond deforestation. Despite notable reductions in Amazon deforestation under the current administration, she stressed the need for continuous improvement across various sectors, including energy, industry, transport, land use, and agriculture.