Sinopec Says Keen on Participating in Shale Gas Project in Saudi Arabia

FILE PHOTO: A man looks at models displayed at the booth of Chinese oil company Sinopec during the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo/File Photo
FILE PHOTO: A man looks at models displayed at the booth of Chinese oil company Sinopec during the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo/File Photo
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Sinopec Says Keen on Participating in Shale Gas Project in Saudi Arabia

FILE PHOTO: A man looks at models displayed at the booth of Chinese oil company Sinopec during the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo/File Photo
FILE PHOTO: A man looks at models displayed at the booth of Chinese oil company Sinopec during the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo/File Photo

Asia's top refiner, Sinopec Corp, is not interested in acquiring Shell's refinery or petrochemical plant in Singapore although it is keen on participating in a shale gas project in Saudi Arabia, the Chinese company's president said on Monday.

Sinopec President Yu Baocai, speaking at a briefing in Hong Kong after the state-run oil and gas giant reported a 20% decline in interim earnings, said that Sinopec is interested in participating in Saudi Arabia's Jafurah shale gas project.

Yu also said that Sinopec was one of the international companies invited by the Sri Lankan government to build a refinery there, and that it was evaluating the matter.



Saudi Tourism Forum 2025 Kicks Off in Riyadh with Over 100 Participants

The Saudi Tourism Forum 2025 kicked off on Tuesday in Riyadh. (Asharq Al-Awsat)
The Saudi Tourism Forum 2025 kicked off on Tuesday in Riyadh. (Asharq Al-Awsat)
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Saudi Tourism Forum 2025 Kicks Off in Riyadh with Over 100 Participants

The Saudi Tourism Forum 2025 kicked off on Tuesday in Riyadh. (Asharq Al-Awsat)
The Saudi Tourism Forum 2025 kicked off on Tuesday in Riyadh. (Asharq Al-Awsat)

Riyadh is hosting the third edition of the Saudi Tourism Forum 2025, featuring participation from over 100 organizations. The forum provides a comprehensive platform to showcase the latest advancements in the tourism sector, highlight investment opportunities, develop skills, and establish new partnerships to accelerate tourism growth in the Kingdom.

Taking place from January 7 to 9, the event is organized in collaboration with the Ministry of Tourism, the Saudi Tourism Authority, and the Tourism Development Fund.

Mohammed Basrawi, Chief Domestic Tourism Officer at the Saudi Tourism Authority, emphasized in his opening remarks the sector’s continuous growth and record-breaking achievements, driven by innovative products and services.

“In 2023, we celebrated welcoming 100 million visitors to the Kingdom, a milestone that reflects the ambitions of Vision 2030 and the support of our wise leadership,” he said.

Basrawi highlighted the success of the previous forum, which attracted over 28,000 visitors from 100 entities, facilitated the signing of 62 agreements, including nine with the Saudi Tourism Authority, and led to the launch of more than 20 new initiatives and products.

This year’s forum will feature additional partnerships, commercial opportunities, and international and local promotional campaigns to further establish Saudi Arabia as a leading global tourism destination, he added.

Khalid Al-Shareef, spokesperson for the Tourism Development Fund, shared insights with Asharq Al-Awsat on the forum’s sidelines, stating that the fund is overseeing more than 135 qualified projects across the Kingdom, with a total investment exceeding SAR 40 billion ($10.7 billion). These include the development of over 8,800 hotel rooms in cities such as Abha, Al-Baha, Taif, AlUla, and Madinah, extending tourism projects beyond major hubs like Riyadh, Jeddah, and the Eastern Province.

Al-Shareef identified the Asir region as a key area of focus due to its diverse geography, attracting both domestic and international tourists, particularly in the summer. He noted that the southern region hosts 15 projects worth SAR 2.6 billion and emphasized the importance of sustained support from both the Public Investment Fund and private sector companies.

Since its inception, the forum has achieved significant milestones, spotlighting Saudi Arabia’s rich cultural heritage and unique tourism offerings while advancing the shared vision of developing this vital sector.

The event features a diverse program of seminars and workshops on the latest tourism trends and developments, enabling participants to engage with industry leaders, policymakers, and experts while enhancing the skills of professionals in the sector.