Aramco, Sabic Ink China Downstream Deals During King Salman’s Asian Tour

As with recent Aramco downstream deals in Malaysia and Indonesia, crude supplies are the catalyst alongside developing its own downstream capabilities.

King Salman’s three-week Asian tour which ended 18 March saw him take in Malaysia, Indonesia, Japan and China and has laid the foundation for a Saudi downstream expansion into Asia linked to increased supplies of crude oil. It is also helping pave the way for Aramco’s planned doubling of global gross refining capacity to 10-12mn b/d, which is contingent on sizeable overseas contributions ( MEES, 10 March ).

At the end of the visit to China, Riyadh and Beijing issued a joint statement expressing their desire to further boost cooperation in the field of energy, including supplies of Saudi oil for the growing Chinese market. (CONTINUED - 924 WORDS)

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