Saudi Aramco CEO: Invest in downstream projects in China's energy, chemical and other fields

Amin Nasser, president and CEO of Saudi Aramco, said the company is exploring new opportunities in China's energy, chemical and technology fields.

On the 24th, he said at the China Development High-level Forum held in Beijing that China occupies a key position in Saudi Aramco's global strategy.

Nasser said that the Saudi-listed company is supporting China's energy and chemical raw material security by investing in multiple downstream projects.

In terms of investment layout, Nasser introduced that Aramco is actively promoting a series of major investments in China, and related projects are progressing smoothly. At the same time, Aramco is strengthening strategic cooperation with Chinese companies such as Sinopec to explore more joint investment opportunities.

Saudi Aramco's existing investments are distributed in Fujian, Liaoning, Zhejiang and Tianjin, and no further details have been disclosed.

Nasser expects that China's oil demand will gradually shift from light transportation to petrochemical products due to the growing demand for plastics, synthetic fibers and other high-end materials. A reliable supply of these materials is essential for China's high-quality key growth industries, including wind and solar, automotive, aerospace and construction, he said.

In November 2024, Saudi Aramco began construction of a new integrated refining and petrochemical complex in China's Fujian province as part of its Liquids-to-Chemicals strategy.