China may invest $10 billion in Brazil state oil company

China may invest $10 billion in Brazil state oil company, Patrobras, on terms that the Latin American company cannot help but find attractive. In advance of the investment, China has secured 100,000 to 160,000 barrels of crude a day, to be sold to the world’s most populous nation at market prices. The parties have not said as much, but the transactions are certainly related. Brazil may end up investing over $170 billion in drilling for off-shore oil reserves. The nation’s deep water Tupi subsalt field may be one of the largest pools of crude in the world