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Saudi Arabia, Japan Sign Clean Energy Cooperation Document 

The Saudi and Japanese ministers sign the MoC during a ceremony on Sunday. (SPA)
The Saudi and Japanese ministers sign the MoC during a ceremony on Sunday. (SPA)
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Saudi Arabia, Japan Sign Clean Energy Cooperation Document 

The Saudi and Japanese ministers sign the MoC during a ceremony on Sunday. (SPA)
The Saudi and Japanese ministers sign the MoC during a ceremony on Sunday. (SPA)

Saudi Arabia and Japan signed a memorandum of cooperation (MoC) on Sunday in the fields of the circular carbon economy, carbon recycling, clean hydrogen and fuel ammonia, the Saudi Energy Ministry said on Twitter. 

The MoC was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and Japanese Industry Minister Yasutoshi Nishimura, who is visiting the Kingdom. 

They held a meeting in which they both stressed the importance of supporting the stability of global oil markets through encouraging dialogue and cooperation between producers and consumers, the Saudi state news agency (SPA) reported. 

The two ministers also highlighted the need to ensure safe supplies from all energy sources to global markets and noted that the kingdom is "the largest dependable source" of crude oil supplies to Japan and "a reliable partner in this aspect" as well. 

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Brazil President Signs Law Authorizing Offshore Wind Development

Brazilian President Luiz Inacio Lula da Silva attends an event marking two years since the alleged coup attempt when supporters of former President Jair Bolsonaro invaded government buildings and called for a military intervention, in Brasilia, Brazil, Wednesday, Jan. 8, 2025. (AP)
Brazilian President Luiz Inacio Lula da Silva attends an event marking two years since the alleged coup attempt when supporters of former President Jair Bolsonaro invaded government buildings and called for a military intervention, in Brasilia, Brazil, Wednesday, Jan. 8, 2025. (AP)
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Brazil President Signs Law Authorizing Offshore Wind Development

Brazilian President Luiz Inacio Lula da Silva attends an event marking two years since the alleged coup attempt when supporters of former President Jair Bolsonaro invaded government buildings and called for a military intervention, in Brasilia, Brazil, Wednesday, Jan. 8, 2025. (AP)
Brazilian President Luiz Inacio Lula da Silva attends an event marking two years since the alleged coup attempt when supporters of former President Jair Bolsonaro invaded government buildings and called for a military intervention, in Brasilia, Brazil, Wednesday, Jan. 8, 2025. (AP)

Brazilian President Luiz Inacio Lula da Silva has signed into law a bill authorizing the development of offshore wind farms, a statement said late on Friday, a bid to strengthen the country's energy security and spark a wave of investment.

The new law foresees incentives for the development of offshore energy projects in Brazilian territorial waters, the statement said.

Offshore wind speeds tend to be faster and steadier than on land, a potential advantage compared with wind farms built on a continent. But offshore wind farms can be expensive, difficult to build and potentially affect marine animals and birds, according to the American Geosciences Institute.

The Brazilian government said the law provides guidelines for projects and restoration of explored areas, in addition to requiring prior consultations with affected communities to ensure "respect for traditional maritime practices and local culture."

More than 80% of Brazil's electricity comes from renewable sources, mainly hydroelectric, according to government data.

The president vetoed provisions in the law, introduced during the congressional debate, which would maintain incentives for "more polluting, expensive and inefficient energy sources such as thermoelectric, coal and gas plants," the statement said.