Saudi Aramco is focusing on strategic overseas downstream investments
Aramco pursues downstream agenda
The Saudi titan’s renewed plans to lock in demand through downstream developments coincide with consumers seeking to guarantee supply
As fears over energy security pushed oil prices towards $100/bl in early 2022, state oil giant Saudi Aramco doubled down on its strategic overseas downstream investment. It resurrected a refining and petrochemicals project in China, with its promise of a guaranteed outlet for exports to its largest crude buyer, while the part-acquisition of a Polish refiner spoke to ambitions to secure a larger slice of the European market. And a long-term sales and offtake agreement with an aspirant Egyptian downstream developer highlighted Aramco’s increasing emphasis in these and other recent deals on maximising petrochemical conversion rates. China is both the largest single importer of Saudi oil—averagi
Also in this section
27 February 2026
LNG would serve as a backup supply source as domestic gas declines and the country’s energy system comes under stress during periods of low hydropower output and high energy demand
27 February 2026
The assumption that oil markets will re-route and work around sanctions is being tested, and it is the physical infrastructure that is acting as the constraint
27 February 2026
The 25th WPC Energy Congress to take place in tandem as part of a coordinated week of high-level ministerial, institutional and industry engagements
27 February 2026
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
