China becomes top destination for Saudi exports: Energy minister

Minister of Energy Prince Abdulaziz bin Salman 

China has become the top destination for the Kingdom of Saudi Arabia’s oil exports as part of the high volume of trade exchange between the two countries, which continued annual growth over the past five years, noting that Saudi-Chinese energy relations include multiple joint investments, SPA reported, citing Minister of Energy, Prince Abdulaziz bin Salman. 
 

On the occasion of the Saudi-Chinese Summit in Riyadh, Prince Abdulaziz bin Salman stated that the two sides are keen to promote cooperation in energy fields, stressing the importance of continuously exchanging views between the two countries, for being among the world's most important energy-producing and energy-consuming countries.

He also pointed to the impact of cooperation between the two countries in maintaining the stability of the global oil market and their continuous endeavors to maintain effective communication and enhance collaboration to face future challenges, reiterating that the Kingdom of Saudi Arabia will remain China’s credible and reliable partner in this field.
 

The minister also reviewed areas of cooperation between the two sides, mainly through projects to convert crude oil into petrochemicals, renewable energy, clean hydrogen, electricity projects and peaceful uses of nuclear energy.

Prince Abdulaziz cited the collaboration and joint investments in countries included by China's Belt and Road Initiative, as well as investment in integrated refining and petrochemical complexes in both countries, and the two nations’ endeavors to boost cooperation in energy supply chains via establishing a regional center in the Kingdom of Saudi Arabia for Chinese factories to take advantage of the Kingdom's distinguished location between three continents.