Breaking Records: The Sino-Brazilian Oil Trade

Over history, BrazilBrazil and ChinaChina have followed different paths in their oiloil sectors. As mentioned above, China achieved self-sufficiencyself-sufficiency in 1965 and has been a net crudecrude exporterexporter until 1992. From then on, productionproduction has grown in a much slower speed than consumptionconsumption and the country increasingly relied on importsimports to satisfy its internalinternal needs. On the contrary, self-relianceself-reliance was never a feature of the BrazilianBrazilian oil industryindustry until 2006. The explorationexploration of pre-saltpre-salt provinceprovinces not only consolidated Brazil’s self-sufficientself-sufficient position, but also made the country to gradually become one of the world’s largest oil exporters.