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From: elmatador

1/12/2026 12:46:54 AM

of 206310

Brazil is strategically positioned to become a crucial “backup” supplier of oil to China.

This assessment comes from Jean Paul Prates, former president of Petrobras, highlighting Brazil’s increasing importance in global energy security.

The shifting dynamics underscore a broader reevaluation of energy partnerships as major powers navigate supply chain vulnerabilities and international sanctions.

China had with Venezuela one of those oil for projects where they get oil at deep discounts.

China Imports hit about 470,000 bpd during 2025, according to energy analytics firm Vortexa, or roughly 4.5% of China's seaborne crude imports.

This ended. On Tuesday, the US president announced that Venezuela would turn over up to 50 million barrels of oil to America, saying the proceeds would be used to benefit both countries.

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