Money & BusinessSaudi Arabia
Saudi Aramco boosts ties with China
Saudi Arabia is strengthening energy ties with China, as the oil producer Aramco agreed to build a multi-billion dollar refining and chemicals project that will tap into the Asian country’s future demand.
Saudi Aramco said it had taken the final investment decision to partner in a refining complex in Panjin, North China after it revived the plan. The state oil company had shelved the project and dropped others, as plunging prices during the pandemic disrupted spending plans.
