Saudi Aramco remains committed to China’s long-term energy security and seeks to be a “partner of first resort” in its economic development journey, President and CEO Amin H Nasser said.
“It is equally clear to us that, with China’s emphasis on high-quality development, even greater investment and cooperation opportunities are emerging,” he said in a speech at the China Development Forum 2024.
He added that China has a vitally important place in Aramco’s global investment strategy, with the Saudi oil major among the leading direct investors in China last year.
“But we are not mere investors, and China is not just a market to us. We want to be a partner of first resort in China’s economic development journey, as new opportunities clearly come into focus,” Nasser said.
The CEO said the doubling of the funding for Aramco’s venture capital arm to $7.5 billion aims to focus on industrial innovation, disruptive technologies and promoting sustainability.—Zawya
