The China National Offshore Oil Corporation (CNOOC) announced on August 6 that it has won a long-term contract to trade 12 million barrels of crude oil from the Mero field in Brazil. This field is identified as the third largest oil field in ultra-deep pre-salt waters in the world.

The achievement marks the first time that a Chinese company has obtained a stake in an oil auction managed by Pré-Sal Petróleo SA (PPSA), a company linked to the Brazilian Ministry of Mines and Energy.

This new contract reinforces energy relations between China and Brazil, with CNOOC expressing a desire to continue expanding this cooperation under the Belt and Road initiative.

Furthermore, the company reaffirmed its commitment to promoting the global integration of oil and gas resources, using advanced technology and facilitating international trade in these resources.

(Source: O Cafezinho, on August 6)