Saudi Crown Prince Mohammed Bin Salman and Chinese President Xi Jinping in Riyadh
Riyadh doubles down on Chinese downstream partnership
A flurry of petchems co-investments reflects Aramco’s drive to preserve long-term market share in both crude and its products
Chinese president Xi Jinping and Saudi Arabia’s de facto ruler Crown Prince Mohammed bin Salman (MbS) pledged to deepen energy sector cooperation during the former’s rare post-pandemic overseas visit to the Kingdom in December. And the words on this occasion were more than diplomatic platitudes. Agreements were signed during the trip for Saudi Aramco and China’s state-controlled Sinopec to co-develop a petrochemicals project in each country, as long-mooted expansion of downstream collaboration acquired concrete form. c.1.77mn bl/d – China’s Saudi crude imports The Saudi and Chinese energy sectors are symbiotically linked as respectively the world’s largest exporter and importer of cr
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
