Aramco CEO Amin Nasser speaks at the 2025 China Development Forum in Beijing
Asia proves a growing draw for Gulf players
A newly formed joint venture between Saudi Aramco and Sinopec signals rising Gulf interest in the Asian market
The $4b capitalised Fujian Sinopec Aramco Refining & Petrochemical Company, which will have a capacity of 320,000b/d and be able to produce 2mt/yr of petrochemicals, is another statement of intent about Saudi Aramco’s aim to position itself at the centre of the world’s most vibrant markets. The Saudi state firm is eyeing other downstream projects with Chinese partners, with Sinopec and Yanbu Aramco Sinopec Refining Company looking into expanding petrochemicals output in Yanbu on the Kingdom’s west coast. Such deals represent a win-win for the Gulf player and its Chinese counterpart. “From China’s perspective, it helps meet continued import needs. In our base case, China remains a net i
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
