By far the largest and most populous country in Latin America, Brazil represents half the continent’s surface area, population and Gross Domestic Product (GDP). It is also the largest economy in South America. Brazil’s GDP ranks ninth in the world and is the 2nd largest non-OECD economy after China. As one of the key G8+5 countries, Brazil is gaining eminence on the global political and economic scene.
In 2006 Brazil achieved self-sufficiency in crude oil, while the country could become a substantial oil and gas producer in the future. The country is also the 10th largest energy consumer in the world, ranking 4th among IEA’s Non-Member Countries after China, Russia and India. The development of Brazilian energy policy has major implications for neighbouring Latin American countries and the rest of the world.
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