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China’s oil output to scale new heights
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
India to help Asia spearhead global refining
Shifting demand patterns leaves most populous nation primed to become downstream leader as China and the West retreat
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Saudi Arabia and Russia pull OPEC+ in different directions
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
Cheap gas key to unlocking new markets
Weaning poorer regions off coal means gas needs to be abundant and competitive longer term
Do not underplay China’s long-term gas growth narrative
A subdued market amid global trade tensions is just an aberration in gas’ upward trajectory
China’s critical gas position
China will play a huge role in driving gas demand, with its Qatar partnership crucial to this growth amid global structural challenges
OPEC++, the sequel, has arrived
It is time to acknowledge that the US-Saudi Arabia nexus is driving a fundamental shift in OPEC strategy
Gas may be bridge fuel for centuries
Energy majors argue transition debate has started to factor in the complexities of demand shifts and the wider role for gas
China’s pragmatic coal-to-gas strategy
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Saudi Crown Prince Mohammed Bin Salman and Chinese President Xi Jinping in Riyadh
China Saudi Aramco Saudi Arabia Sinopec
Clare Dunkley
16 January 2023
Follow @PetroleumEcon
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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

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