Saudi Aramco sees Shandong as strategic partner
1 year, 2 months ago

Saudi Aramco sees Shandong as strategic partner

China Daily  

Muhammed Qahtani, Saudi Aramco's Downstream President. As one of China's largest refining and petrochemical hubs, Shandong province plays a crucial role in Saudi Aramco's expansion of business in China, deepening cooperation with China, and ensuring energy security and economic prosperity for China, said Muhammed Qahtani, Saudi Aramco's Downstream President. Saudi Aramco is a globally leading energy and petrochemical integrated enterprise, creating value across the entire hydrocarbon value chain and delivering economic and social benefits to people and communities worldwide. In late 2021, Saudi Aramco opened its first office in Shandong, strengthening cooperation with key partners to provide engineering design, procurement, and manufacturing services for Saudi Aramco's core equipment for offshore oil fields. Based on a memorandum of understanding signed by both parties, the collaboration includes a potential crude oil supply agreement and chemical product purchase agreements, aiming to boost Saudi Aramco's downstream business in Shandong.

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History of this topic

More Saudi investment encouraged
3 months, 1 week ago

More Saudi investment encouraged

China Daily  

Premier Li Qiang poses for a group photo with representatives of the Saudi business community and Chinese officials on Wednesday before a meeting in Riyadh, Saudi Arabia. WANG ZHUANGFEI/CHINA DAILY China's development will provide a broader market and more investment opportunities for enterprises from Saudi Arabia and other countries, amid a sluggish global economic recovery and growing uncertainties around the …

China, Saudi Arabia fortify pillar of relations by expanding investment, trade
3 months, 1 week ago

China, Saudi Arabia fortify pillar of relations by expanding investment, trade

China Daily  

RIYADH - Chinese Premier Li Qiang's visit to Saudi Arabia, which concluded on Wednesday, has underscored the role of investment and trade as a key pillar of the China-Saudi Arabia relationship. Following the meetings, Saudi Arabia's Minister of Investment Khalid Al-Falih told Xinhua that China and Saudi Arabia have bright prospects for investment cooperation, noting that around 750 Chinese joint …

Saudi Arabia eyes tie-ups with China in R&D, innovation
3 months, 2 weeks ago

Saudi Arabia eyes tie-ups with China in R&D, innovation

China Daily  

Saudi Arabia is eyeing greater collaboration in research and development, as well as innovation with Asia as it looks to China for technology and automotive advancement in its mining sector transformation push, according to a senior government official. Saudi Arabia's Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef, told China Daily in an interview in Hong Kong on …

Sino-Saudi ties prospering in energy sector
5 months ago

Sino-Saudi ties prospering in energy sector

China Daily  

By ZHENG XIN | China Daily | Updated: 2024-07-18 06:49 China and Saudi Arabia have embarked on several landmark projects to jointly bolster renewable energy efforts, which will pave the way for significant advancements in renewable energy infrastructure and technology that will benefit both nations, according to analysts. With a total investment of approximately $2.08 billion, the factory will further …

Sino-Saudi ties prospering in energy sector
5 months ago

Sino-Saudi ties prospering in energy sector

China Daily  

China and Saudi Arabia have embarked on several landmark projects to jointly bolster renewable energy efforts, which will pave the way for significant advancements in renewable energy infrastructure and technology that will benefit both nations, according to analysts. With a total investment of approximately $2.08 billion, the factory will further solidify the renewable energy collaboration between China and Saudi Arabia, …

Saudi Aramco acquires 10% equity interest in Geely-Renault joint venture company
5 months, 3 weeks ago

Saudi Aramco acquires 10% equity interest in Geely-Renault joint venture company

China Daily  

Visitors gather at Saudi Aramco's booth during an expo in Abu Dhabi, the United Arab Emirates. RIYADH -- Saudi Arabian Oil Company, commonly known as Saudi Aramco, has signed definitive agreements to acquire a 10 percent equity interest in HORSE Powertrain Limited, a global powertrain solutions company formed by Renault Group and Chinese automaker Geely Auto Group, the Saudi Press …

Saudi Aramco swears by long-term potential in Chinese market
7 months, 1 week ago

Saudi Aramco swears by long-term potential in Chinese market

China Daily  

Visitors gather at Saudi Aramco's booth during an expo in Abu Dhabi, the United Arab Emirates. Saudi Aramco, the world's largest oil exporter, said it is fairly optimistic about China's long-term growth potential and the abundant opportunities arising from the country's focus on high-quality development. The company will continue supporting China's long-term energy security and economic growth, eyeing greater investment …

Aramco mulls expansion on China demand
9 months, 1 week ago

Aramco mulls expansion on China demand

China Daily  

Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia Oct 12, 2019. Saudi Aramco, the world's largest oil and gas producer, is looking at further opportunities to invest in China, where oil demand has been robust and is growing, according to the company's top executive. The scale of the industrial footprint and China's demand growth present …

Saudi Arabia Pushes for Cooperation with China, Disregards Western Suspicions
1 year, 6 months ago

Saudi Arabia Pushes for Cooperation with China, Disregards Western Suspicions

News 18  

Saudi Arabia wants to collaborate, not compete, with China, the kingdom’s energy minister declared on Sunday, saying he “ignored” Western suspicions over their growing ties. OIL DEALS In March, state oil giant Saudi Aramco announced two major deals to raise its multi-billion dollar investment in China and bolster its rank as China’s top provider of crude. They were the biggest …

Saudi Aramco to invest billions in Chinese petrochemicals
1 year, 8 months ago

Saudi Aramco to invest billions in Chinese petrochemicals

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia's state-owned oil giant …

Saudi Aramco affirms support for China's energy security
1 year, 8 months ago

Saudi Aramco affirms support for China's energy security

China Daily  

The logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia on Nov 3, 2019. Saudi Aramco aims to expand its oil production capacity by a million barrels per day to 13 million barrels by 2027 and increase gas production by more than …

Oil giant Saudi Aramco makes a historic $161B profit in 2022
1 year, 9 months ago

Oil giant Saudi Aramco makes a historic $161B profit in 2022

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco reported Sunday earning $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists. The monster profit by the firm, known formally as the Saudi Arabian Oil Co., came off the back of energy prices rising after Russia launched its war …

China, Saudi Arabia strengthen partnership on energy, defence
2 years ago

China, Saudi Arabia strengthen partnership on energy, defence

Al Jazeera  

Beijing and Riyadh say they will ‘firmly support each other’s core interests’ during an official visit by President Xi Jinping to the kingdom. Saudi Arabia and China reaffirmed their cooperation on global oil markets and the principle of non-interference in internal affairs during Chinese President Xi Jinping’s visit, which was aimed at deepening strategic relations, at a time when Washington’s …

As US watches on, China-Saudi relations grow in importance
2 years ago

As US watches on, China-Saudi relations grow in importance

Al Jazeera  

Chinese President Xi arrives in Saudi Arabia to much fanfare, unlike the low-key welcome afforded to US President Biden. “Saudi Arabia is partnering with China to accelerate the kingdom’s digitalisation of the energy sector and the digital transformation of the economy more broadly,” observed Calabrese. Also, in certain niche areas, such as armed drones, the Chinese have made sales to …

When China and Saudi Arabia meet, nothing matters more than oil
2 years ago

When China and Saudi Arabia meet, nothing matters more than oil

CNN  

Hong Kong CNN — Chinese leader Xi Jinping is visiting Saudi Arabia this week for the first time in nearly seven years, during which he signed a comprehensive strategic partnership with the world’s largest oil exporter and met leaders from across the Middle East. Saudi Arabia is China’s largest trading partner in the Middle East and the top global supplier …

Saudi oil giant Aramco’s first-quarter profits surge 80%
2 years, 7 months ago

Saudi oil giant Aramco’s first-quarter profits surge 80%

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and surging oil prices following Russia’s invasion of Ukraine. The bumper first-quarter earnings by the firm formally known as the Saudi Arabian …

China can play important role in Saudi Arabia's economic diversification
2 years, 9 months ago

China can play important role in Saudi Arabia's economic diversification

China Daily  

MA XUEJING/CHINA DAILY The relationship between China and Arab states dates back to antiquity. The internally conflicted US policy, to limit American engagement in the Middle East and bully the regional allies to choose between Beijing and Washington, has dismayed Saudi Arabia, urging it to benefit from China's growth, enormous market and investment capability. This ambitious goal, given building a …

Reliance, Saudi Aramco to re-evaluate investment proposal
3 years, 1 month ago

Reliance, Saudi Aramco to re-evaluate investment proposal

The Hindu  

Reliance Industries Ltd and Saudi Aramco have mutually decided to re-evaluate a major investment proposal concerning the O2C business of RIL. “Due to the evolving nature of Reliance’s business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context,” RIL …

RIL said to invest in Abu Dhabi petrochemicals hub: Report
3 years, 5 months ago

RIL said to invest in Abu Dhabi petrochemicals hub: Report

Live Mint  

Reliance Industries Ltd. is set to invest in petrochemical facilities in Abu Dhabi, according to people familiar with the matter, as it strengthens energy ties with the Middle East. The Indian conglomerate plans to join projects at Abu Dhabi National Oil Co.’s Ruwais refining hub, the people said. Reliance, the operator of the world’s biggest refining complex, and Adnoc signed …

RIL-Saudi Aramco deal to close this year: Ambani
3 years, 6 months ago

RIL-Saudi Aramco deal to close this year: Ambani

Live Mint  

Mumbai: Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, on Thursday said he expects the company's deal with Saudi Aramco to materialise this year. Speaking at the company's annual general meeting, Ambani said "As an important part of this vision of achieving accelerated growth, we look forward to welcoming Saudi Aramco as a strategic partner in our O2C …

Saudi Aramco suspends $10 billion China oil refinery venture
4 years, 4 months ago

Saudi Aramco suspends $10 billion China oil refinery venture

Live Mint  

Saudi Arabia’s state oil company has suspended a deal to build a $10 billion refining and petrochemicals complex in China, according to people familiar with the matter, as the company slashes spending to cope with low oil prices. Saudi Arabian Oil Co., or Aramco, decided to stop investing in the facility in China’s Northeastern province of Liaoning after negotiations with …

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