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
23 June 2025
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks
23 June 2025
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
20 June 2025
The scale of energy demand growth by 2030 and beyond asks huge questions of gas supply especially in the US
20 June 2025
The Emirati company is ramping up its overseas expansion programme, taking it into new geographic areas that challenge long-held assumptions about Gulf NOCs
