Saudi Aramco to ink five crude supply deals with China

Saudi Aramco is expected to ink five new crude oil supply agreements (COSA) with Chinese customers, the state oil giant said at the first China International Import Expo (CIIE) in Shanghai on Wednesday.

A delegation of Saudi Aramco’s Crude Oil Sales and Marking Department (COSMD), led by COSMD manager Ahmed Alkhunaini, attended CIIE with Aramco Asia president Anwar Al Hejazi and Beijing office marketing representatives. 

The new supply contracts will help to take the total 2019 China COSA volume to 1.67 million barrels per day (bpd), making Saudi Aramco China’s largest supplier next year, the statement said. 

“Large, integrated crude to chemical projects like ZPC and Hengli are the future of China’s downstream industry and I’m excited Saudi Aramco will be part of their success story,” Saudi Aramco senior vice president, Abdulaziz Al-Judaimi, said.