Aramco eyes investments in China
Saudi Aramco President and CEO Amin Nasser has reaffirmed the company's continued exploration of new investment opportunities in China, a pivotal market for Aramco and a fundamental part of its global strategy.
Speaking at the China Development Forum in Beijing, where he discussed Saudi Aramco's current investments and activities in China, Nasser highlighted that the company's primary investment focus in China encompasses the provinces of Fujian, Liaoning, Zhejiang, and Tianjin.
He emphasised the Saudi firm's commitment to seeking additional investment prospects in:
Energy
Chemicals
Technology development
Aramco China investments
He underscored China's development plans that prioritise quality and require energy and industrial raw materials, saying that Aramco supports China's energy and chemical security by investing in numerous projects across the refining, chemicals, and marketing sectors.
Nasser said: 'China stands as the world's leading consumer and producer of petrochemicals, driving almost half of the global demand for chemical materials'.
He noted China's emergence as a global hub for the chemical industry value chain, underscoring its importance for future industries.
Furthermore, he stressed that oil and gas are vital for China's economic growth and anticipated a shift in China's oil demand from fuel for transportation to feedstock for the petrochemical industry, driven by the increasing need for plastics, synthetic fibres, and advanced materials.
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