Saudi Arabia and Brazil will work together on a range of energy projects, including electricity, green hydrogen, oil and gas, and petrochemicals under an MoU signed as part of a KSA-Brazil roundtable in Riyadh last week, according to state news agency SPA. The MoU was signed by Energy Minister Abdulaziz bin Salman and Brazilian Mining and Energy Minister Alexandre Silveira during a visit to Riyadh by Brazil’s president.

Background: Finance, transport, logistics, and the automotive sector were discussed as potential areas of collaboration during the KSA-Brazil Investment Forum earlier this year. KSA expressed hopes that the two countries will become “top-five investors in each other’s economy.” As we reported last week, Brazilian companies are increasing their investment in Saudi in industries including meatpacking and processing and aerospace.

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