Saudi Aramco CEO Reaffirms Commitment to Expanding Investment in China
BEIJING, March 24 (Saudi Arabia Breaking News) — Saudi Aramco President and CEO Amin Nasser reaffirmed the company's commitment to exploring new investment opportunities in China, describing the country as a pivotal market and a core component of Aramco’s global strategy.
Speaking at the China Development Forum in Beijing, Nasser outlined Aramco’s current investments and future ambitions in China, emphasizing that the company’s focus spans key provinces, including Fujian, Liaoning, Zhejiang, and Tianjin. He highlighted Aramco’s intention to pursue further investments in energy, chemicals, and technology development.
“China stands as the world’s leading consumer and producer of petrochemicals, driving nearly half of global demand for chemical materials,” Nasser said. He underscored China's growing role as a global hub for the chemical industry value chain and noted its significance for future industrial growth.
Nasser emphasized that Aramco’s investments are aligned with China’s development plans, which focus on quality and require robust supplies of energy and industrial raw materials. He noted that Aramco contributes to China’s energy and chemical security through its expanding portfolio of refining, chemicals, and marketing projects in the country.
He also pointed to a shift in China’s oil demand from transportation fuel toward petrochemical feedstock, driven by the growing need for plastics, synthetic fibers, and advanced materials. “Reliable supplies of these materials are essential for China’s critical sectors, including energy, automotive, aerospace, and construction,” Nasser said.
Saudi Aramco’s long-term strategy in China reflects its broader objective to strengthen global partnerships, support industrial development, and ensure energy security for key international markets.