Lula offers Brazil’s oil as Hormuz crisis continues
Key Takeaways
- Lula said Brazil was "at the service of the whole world" amid the oil crisis.
- He called for more exploration along Brazil's Equatorial Margin.
- Lula also discussed possible oil co-operation with Mexico.
The Brazilian president says the country could serve global oil demand while pushing further exploration along the Equatorial Margin.
President Luiz Inacio Lula da Silva said Brazil was "at the service of the entire world" if the oil crisis in the Strait of Hormuz continued.
Lula made the comments on Monday during a visit to a Petrobras drillship off the coast of Oiapoque, in the state of Amapa.
"If President Trump wants to wage a war against Iran and close the Strait of Hormuz, we are here, at the service of the whole world. We are on the Equatorial Margin, 175 kilometres off the coast. We are here, in the middle of the ocean, discovering oil of incredible purity," he said.
Lula highlighted the oil potential of the Equatorial Margin, a large maritime area off Brazil's northern coast, and called for more research.
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During the visit, Lula also discussed Brazil's efforts to expand oil co-operation with other countries.
He said he had spoken with Mexican President Claudia Sheinbaum about opportunities for the two countries to work together in the sector.
According to Lula, the aim is "to go to the Gulf of Mexico and try to find oil in deep waters".
"[Brazilian firm] Petrobras has the potential to be the most important oil company in the world," Lula said in his remarks.
The Brazilian government sees exploration of the Equatorial Margin as a way to increase national production and reduce the country's dependence on oil imports in the coming years.
This story is written and edited by the Global South World team, you can contact us here.
