Amin Nasser, President and CEO of Saudi Aramco, underscored on Monday the company’s commitment to exploring new and additional investment opportunities in China, a key market and a central pillar of Aramco’s global strategy.
Speaking at the China Development Forum in Beijing, Nasser highlighted Aramco’s ongoing investments and operations in the country.
According to an official company statement, he noted that Aramco currently has investments in Fujian, Liaoning, Zhejiang, and Tianjin provinces and is actively exploring further opportunities in energy, chemicals, and technology development.
“China is one of our most important investment destinations,” Nasser said, adding that the country’s ambitious development plans, which focus on quality growth, require energy and industrial raw materials.
He emphasized Aramco’s role in supporting China’s energy security and chemical sector through multiple investments in refining, petrochemicals, and marketing projects.
Discussing China’s role in the global economy, Nasser pointed out that it is the world’s largest consumer and producer of petrochemicals, accounting for nearly half of global chemical demand.
China has emerged as a global hub for the entire petrochemical value chain, which will be crucial for future industries, he remarked.
“As long-term investors, we at Aramco remain excited about the vast and growing opportunities in China,” Nasser said. “In fact, we aim to strengthen our existing partnerships and take them to new heights.”
He also stressed that oil and gas will continue to be fundamental to China’s economic growth. Over time, however, he expects China’s oil demand to shift from use in light transportation to petrochemical production, driven by the increasing need for plastics, synthetic fibers, and advanced materials.
“A reliable supply of these materials will be essential to China’s high-quality critical growth industries – including wind and solar energy, automotive, aerospace, and construction,” he added.
