Saudi Aramco and CNPC sign MoU to expand crude oil trade and petrochemical project

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Saudi Aramco and CNPC agreed to expand crude oil trade and strengthen their cooperation on refinery and petrochemical projects, as well as technology services and equipment supply to the petroleum industry.

Saudi Aramco and China National Petroleum Corporation (CNPC), parent of PetroChina, have signed a memorandum of understanding (MoU) during a four-day visit to Saudi Arabia by a CNPC delegation headed by CNPC’s president Jiang Jiemin. CNPC president Jiang held discussions in Dhahran Dec.18 with Khalid A. Al-Falih, president and chief executive officer of Saudi Aramco, on a wide range of topics of mutual interest.

Saudi Arabia is currently the leading supplier of crude oil to China. CNPC is China’s largest integrated oil and gas company and has extensive investments outside China both upstream and downstream.

The 13-member delegation toured Saudi Aramco facilities in Dhahran, including the Oil Supply Planning & Scheduling (OSPAS) Center and the Saudi Aramco Oil Exhibit. The delegates also visited the Shaybah oil producing facilities deep in the Rub’ al-Khali (or Empty Quarter).

Accompanying the CNPC president were a number of company officials, including CNPC’s assistant president Li Runsheng and PetroChina vice president Bo Qiliang.

For more information about Saudi Aramco exploration, oil and gas exploration please visit http://www.saudiaramco.com