According to reports from Brazilian media on June 9, 2015, in the first five months of 2015, Brazil has exported approximately 5.4 million tons of oil to China. China is expected to surpass the United States this year to become the largest buyer of Brazilian oil.
In the first five months of 2015, Brazil has exported about 5.4 million tons of oil to China.
"Sao Paulo" quoted statistics from the Brazilian Ministry of Industry and Trade that from January to May 2015, Brazilian oil exports to China accounted for a record 35% of total oil exports, compared with only 6.3% in the same period of 2006.
The "Sao Paulo" pointed out that China is already the biggest buyer of Brazilian soybeans, iron ore and pulp. Since the beginning of this year, as oil prices have fallen, China has stepped up its efforts to purchase Brazilian oil. If oil trends continue this way, this year China may overtake the United States as Brazil’s largest buyer of oil.
The report also stated that China-Brazil energy cooperation has developed rapidly in recent years. Chinese oil companies and Brazilian national oil companies (Palm) have jointly developed deep-sea oil, while Chinese financial institutions, including the China Development Bank, have provided several loans to the company. .
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