China continues to invest in its energy securityFriday, 19 December 2008 The Chinese Government has offered Brazil a USD 10 billion loan facility to explore their deep water pre-salt oil fields, according to the Brazilian Energy and Mining Minister. With OPEC and other oil rich states such as Russia looking to decrease production as low oil prices damage, in their opinion, their economies future growth, the Chinese investment is a sign of their continuing investment in their energy security and that the energy price will return back to its previous highs. According to the Brazilian Government, they are also in negotiation with the UAE and that these investments will be unaffected by the current economic turmoil.
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