Saudi Aramco President and CEO Amin H. Nasser reaffirmed China's pivotal role in the energy giant's global strategy during a Tuesday earnings call, signaling expanded investments in the world's second-largest economy. The announcement comes as multinational corporations increasingly align with China's growing energy demands and industrial modernization efforts.
"China will continue to be a main market for Saudi Aramco in crude supply, investments, and advanced projects like liquids-to-chemicals," Nasser told reporters, highlighting existing collaborations with Chinese partners on integrated refining and petrochemical complexes. The company currently participates in multiple large-scale projects across the Chinese mainland, with plans to deepen its footprint through new ventures.
Analysts note the timing coincides with China's push for energy security and technological upgrades in its manufacturing sector. "These investments represent more than just resource transactions – they're about building long-term industrial partnerships," said energy market researcher Li Wei, speaking to KhabarAsia.com about the strategic implications.
The commitment underscores China's central position in global chemical markets, with Saudi Aramco positioning itself to capitalize on Asia's projected 60% share of global petrochemical growth through 2040. The move also strengthens economic ties between China and Saudi Arabia, following recent currency swap agreements and technology transfer initiatives.
