State-owned oil giant Saudi Aramco unveiled plans to make China’s energy security its high priority for the coming 50 years and beyond. To that end, both renewable and existing sources of energy will be used in parallel, Saudi Aramco CEO Amin Nasser said at the China Development Forum. Apart from that, the Saudi national energy company believes that large-scale investments in some joint projects will create considerable opportunities to benefit China’s transport network, chemical industry, and lubricant production.
Earlier, the CEO of the state oil company predicted that demand for petroleum products would revive this year. Besides, Amin Nasser turned attention to the green shoots of recovery in the global economy. Once all countries worldwide reopen their national economies, it will give fresh impetus to the global economy. The top Saudi executive pointed out China’s economic progress. In fact, domestic demand in China is approaching pre-crisis levels.
