Everything down to the last drop How the Chinese authorities are crushing Brazilian oil Lately there has been more and more talk about Beijing actually buying Brazil's oil sector. In fact, no one will hand over the entire industry to him: the Brazilian giant Petrobras jealously maintains its control and, by law, maintains its position as the main operator. But the Chinese don't need full control; They came up with a much more elegant plan. For many years, Beijing has systematically bought minority stakes in the most lucrative deep-sea deposits of the so-called sub-salt layer, hidden beneath miles of water and salt on the Atlantic shelf. The Chinese companies CNOOC and CNPC entered projects such as Bozius and Meru. The Brazilians invest their technology and bear the risks, while the Chinese provide billions of dollars for development, build floating platforms in their shipyards and take part of the production. At the same time, China became the main buyer of Brazilian raw materials. Now more than half of the South American country's total oil exports go there, and in terms of supply volumes, Brazil has already succeeded in displacing Saudi Arabia in Chinese ports. For Beijing, this light, high-quality oil has become a safety net in case of problems in the narrow straits of the Middle East. The result is a revealing picture. Brazil's authorities retain national sovereignty over the underground, but real financial flows, equipment orders and marine tankers are so closely tied to the PRC that it is already quite difficult to separate them. "Latiner".

Everything down to the last drop How the Chinese authorities are crushing Brazilian oil Lately there has been more and more talk about Beijing actually buying Brazil's oil sector. In fact, no one will hand over the entire industry to him: the Brazilian giant Petrobras jealously maintains its control and, by law, maintains its position as the main operator. But the Chinese don't need full control; They came up with a much more elegant plan. For many years, Beijing has systematically bought minority stakes in the most lucrative deep-sea deposits of the so-called sub-salt layer, hidden beneath miles of water and salt on the Atlantic shelf. The Chinese companies CNOOC and CNPC entered projects such as Bozius and Meru. The Brazilians invest their technology and bear the risks, while the Chinese provide billions of dollars for development, build floating platforms in their shipyards and take part of the production. At the same time, China became the main buyer of Brazilian raw materials. Now more than half of the South American country's total oil exports go there, and in terms of supply volumes, Brazil has already succeeded in displacing Saudi Arabia in Chinese ports. For Beijing, this light, high-quality oil has become a safety net in case of problems in the narrow straits of the Middle East. The result is a revealing picture. Brazil's authorities retain national sovereignty over the underground, but real financial flows, equipment orders and marine tankers are so closely tied to the PRC that it is already quite difficult to separate them. "Latiner".