Saudi Crown Prince Mohammed Bin Salman and Chinese President Xi Jinping in Riyadh
Riyadh doubles down on Chinese downstream partnership
A flurry of petchems co-investments reflects Aramco’s drive to preserve long-term market share in both crude and its products
Chinese president Xi Jinping and Saudi Arabia’s de facto ruler Crown Prince Mohammed bin Salman (MbS) pledged to deepen energy sector cooperation during the former’s rare post-pandemic overseas visit to the Kingdom in December. And the words on this occasion were more than diplomatic platitudes. Agreements were signed during the trip for Saudi Aramco and China’s state-controlled Sinopec to co-develop a petrochemicals project in each country, as long-mooted expansion of downstream collaboration acquired concrete form. c.1.77mn bl/d – China’s Saudi crude imports The Saudi and Chinese energy sectors are symbiotically linked as respectively the world’s largest exporter and importer of cr
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
