“This is my second visit to India since January 2020 when I accompanied the President for Republic Day celebrations and we had signed bilateral documents on the energy sector. We are now implementing these documents. We are ready to assist India with energy transition as close partners. We are developing economies and we are similar in many ways,” Albuquerque told ET on a visit to meet the Oil Minister as well as Transport & Highways Minister.
The visit is also a follow up of a meeting with Oil Minister Hardeep Puri in UAE last November in UAE, according to Albuquerque. “And following my visit high level delegations from five Indian Ministries will be in Brazil to take forward green energy partnership,” the Minister informed.
Brazil is among the world’s top ten oil producers and tops the list of countries from Latin America that export oil to India. “We have used revenues earned from oil exports to fund energy transition. Our public transport network runs on clean fuel,” the Minister informed. “Yet new oil blocks have been offered even during the pandemic. Ever since the oil shock of 1971 we have tried to create an energy mix – fossil fuel and increasing use of green & clean energy.”
When asked about Brazil’s role in stabilising oil supplies amid the Ukraine crisis, Albuquerque said the nation is witnessing an oil production increase of 300,000 barrels per day this year, marking a 10% increase from last year. “We have increased our production in the last three years.”
He is leading a high-level government and business delegation to New Delhi from Wednesday to Friday. The Brazilian delegation includes high officials from the Ministry of Mines and Energy, the Energy Research Office, the Ministry of the Economy and the Ministry of Foreign Affairs and senior business leaders from the sugarcane and ethanol producing companies, vehicle manufacturers and energy producers in Brazil.
Albuquerque will also hold meetings with the CEO of NITI Aayog, Amitabh Kant. The Minister will also witness the signing of agreements between Brazilian and Indian productive sector organisations on biofuels (21 April). He will open the seminar “The Brazilian Energy Mix” and visit the Indian Oil Corporation Research Centre in Faridabad.
For all the latest world News Click Here
