China oil financing falls in Latin America
Beijing’s investment in the region is shifting from oil and other commodities to services
Latin America's commodities boom has faded, and with it has gone much of the Chinese oil financing that fuelled the good times. In the decade before the 2014 oil-price crash, Beijing pumped tens of billions of dollars into the region through oil-backed loans and direct investment in major oil and gas projects from its state-owned oil companies. Last year, the only major oil-related deal in the region from Beijing was a $5bn oil-backed loan from the China Development Bank to Brazil's Petrobras. The state-owned company has relied heavily on Chinese financing since the sprawling Carwash (Lavo Jato) corruption scandal made it more difficult and costly for Petrobras to access international capita
Also in this section
11 August 2025
The administration is pushing for deregulation and streamlined permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
