Saudi Aramco is interested in investing in China, its President and CEO Amin H Nasser, said.
He asserted that Aramco has a huge interest in investing in the economic powerhouse.
The CEO was speaking at the International Petroleum Technology Conference 2022 in Riyadh.
“Definitely, we are looking for more investment in China. And we are currently in discussions with a number of our partners in China,” Nasser told the local media.
However, Nasser refused to disclose more about any potential investments.
A recent report stated that Aramco is holding initial talks with partners, including the state-owned defense contractor Norinco.
This is regarding the development of a $10 billion refining and petrochemicals complex in China.
Initial talks were supposed to begin in 2020. However, due to the oil crash triggered by the COVID-19 pandemic, they didn’t proceed.
With the price of crude oil nearing $100 a barrel, Aramco could take another look at this investment in what is its biggest export market.
