Aramco explores new investment opportunities in China: CEO

Amin Nasser, President and CEO  of Saudi Aramco

Saudi Aramco continues to explore new and additional investment opportunities in China, President and CEO Amin Nasser said.

He pointed out that China represents a large market for Aramco and occupies a key position in its global strategy.

Speaking at the China Development Forum in Beijing, Nasser explained that China is a key investment destination, with Aramco’s current investments spread across the provinces of Fujian, Liaoning, Zhejiang, and Tianjin, Argaam reported, citing a press release.

Aramco seeks to explore opportunities, such as energy, chemicals, and technology development sectors, he said, emphasizing that China is the world’s largest consumer and producer of petrochemicals, accounting for nearly half of the global demand.

The CEO said that oil and gas remain critical to China’s economic growth equation.

“That said, our expectation is that, over time, oil demand here will shift from light transport toward petrochemicals due to a rising need for plastics, synthetic fibers, and other high-end 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, Nasser said.