Mobile-Menu

China: Business Venture Saudi Aramco Signs Crude Oil Supply Deals for 2020

Editor: Ahlam Rais

Saudi Aramco has signed the deals with five Chinese customers thus, further strengthening the company’s position as the Asian country’s leading supplier of crude. With this move, the Gulf firm has increased its total volume by 151,000 barrels per day as compared to its 2019 supply contracts.

Related Companies

AZO GmbH + Co. KG
Glatt Ingenieurtechnik GmbH
TRM Filter d.o.o.
The five new agreements were signed separately on the sidelines of the second China International Import Expo in China.
The five new agreements were signed separately on the sidelines of the second China International Import Expo in China.
(Source: Deposit Photos)

Shanghai/China – Saudi Aramco has recently signed crude oil sales agreements for 2020 with five Chinese customers, increasing total volume by 151,000 barrels per day compared to their 2019 supply contracts. These new sales agreements further solidify the Company’s position as China’s top crude supplier.

These five new agreements were signed separately on the sidelines of the second China International Import Expo (CIIE), the largest trade fair held under the patronage of Chinese President Xi Jinping. Commenting on the newly signed agreements, Ahmed Al-Subaey, Vice President of Marketing, Sales and Supply Planning, said, “The new agreements signed at CIIE reflect Chinese customers’ continued faith in Saudi Aramco’s supply stability and operational excellence. Likewise, the new agreements demonstrate our continued commitment to the world’s fastest-growing oil market.”

Specialist Book „Heat Transfer Technique“The comprehensive standard work „Heat Transfer Technique“ offers not only a detailed and well-founded presentation of the basics of heat transfer technique, but also shows the latest state of the art and the latest regulations in the use of organic fluids. Thematically, the book is rounded off with an overview of property data of organic heat transfer fluids as well as many use cases from practical experience.

This is the second consecutive year that Saudi Aramco has attended CIIE. Last year, the Company signed a number of crude oil sales agreements with Chinese customers that helped to propel Chinese crude oil sales in 2019 to new levels. These agreements reflect Saudi Aramco’s efforts to strengthen its position in China and support the country’s growth in refining and petrochemicals, as well as overall energy security.

Subscribe to the newsletter now

Don't Miss out on Our Best Content

By clicking on „Subscribe to Newsletter“ I agree to the processing and use of my data according to the consent form (please expand for details) and accept the Terms of Use. For more information, please see our Privacy Policy.

Unfold for details of your consent

(ID:46255504)

Related content