There are several options available to China to invest in Brazil’s energy market, Brazilian expert Severino Cabral told Chinese state-run news agency Xinhua.

Mr Cabral said the opportunities are there even if the recent fall in oil prices makes ‘pre-salt’ oil exploration in the South American country unviable. The pre-salt layer is a geological formation found on continental shelves.

Mr Cabral heads the Brazilian Institute of China and Asia Pacific Studies. He told Xinhua that if oil prices stabilise between US$60 to US$70 a barrel, that should make the exploration of both pre-salt and shale oil viable.

The expert noted that China could also invest in other energy sources in Brazil, especially renewable ones such as ethanol fuel, solar power, hydroelectric power and wind power.

Mr Cabral said Brazil’s energy versatility is an advantage for China, a great energy consumer. “Brazil is a natural and strategic partner of China as it has a huge stock of natural resources,” he pointed out.

Opportunities in the existing oil sector are also open for Chinese companies, as Brazil’s state-controlled oil giant Petrobras is seeking partners abroad, Mr Cabral added.