Saudi cooperation with China continues with finalization of long-planned refinery deal
Saudi oil giant Aramco has made a few agreements with Chinese companies in recent years.
Saudi’s state-owned oil company finalized a deal yesterday to built a major energy complex in China.
Aramco made the “final investment decision” to develop a refinery and petrochemical complex in northeast China with the North Huajin Chemical Industries Group Corporation and Panjin Xincheng Industrial Group companies, the official Saudi Press Agency reported.
One Aramco executive said that China is key to their plans to expand in Asia.
“China is a cornerstone of our downstream expansion strategy in Asia and an increasingly significant driver of global chemical demand,” said Mohammed al-Qahtani, per the agency.
