China’s energy security is ‘set in stone’ says Aramco CEO

Aramco

Saudi Aramco’s dedication to China’s energy security is “set in stone”, President and CEO of the state oil company Amin Nasser has said.

“China has a vitally important place in our global investment strategy,” he said in his speech at the China Development Forum 2024. “Aramco was among the leading direct investors in China last year.”

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Rejecting the idea of China merely as a market, the CEO said Aramco wants to be an important partner in the country’s economic development journey.

Opportunities were emerging in many sectors, such as chemicals, greenhouse gas emissions, materials and renewables, as China was focusing on high-quality development and greater investment, he said.

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He maintained that Aramco was proud to be one of China’s most reliable energy suppliers and is committed to China’s long-term energy security.

The CEO said that Sabic, a subsidiary of Aramco, was building on its strength in the chemicals sector, and the $6.4 billion Fujian facility is on track to commence construction.

“We are actively developing additional investment opportunities with our Chinese partners to help build a world-leading chemicals sector,” he said.