Saudi Energy Minister: Chinese oil demand is increasing, we ‎must take advantage of it

Prince Abdulaziz bin Salman, Minister of Energy, said that the demand for oil in China is increasing, and we must benefit from this demand, as well as petrochemicals, indicating that the Kingdom will build several refineries to convert oil into petrochemicals.

The Minister of Energy confirmed, during his participation today, Sunday, in a dialogue session entitled: “The New Transformation in Energy in the Kingdom and China” at the Arab-Chinese Business Conference, that the Kingdom hopes that we will reach 30 million tons of chemicals, and we revealed that the potential partners in this industry are China and India, We welcome any new partner

He continued: “We are not in a place to compete with China, but rather we must put ourselves in an integrative place. We have a joint committee with China headed by Crown Prince Mohammed bin Salman. The committee includes several initiatives in different sectors, and less than two weeks ago we completed a long visit for potential investments. From A to Z.”

A lot of things bring us together with China, and there is a complementary role and great harmony between the two countries between the Saudi Vision 2030 and the Chinese Belt and Road Initiative, and we have the desire to work between us.