Oil giant Saudi Aramco will warrant China’s energy security holds utmost priority for the next five decades, addressed by Chief Executive Amin Nasser to the China Development Forum on Sunday.
In a video speech, Mr. Nasser said that the continuing security of China’s energy needs Aramco’s highest priority—not just for the next five years, but for the next 50 and beyond.
The world’s largest oil producer, Aramco, has led Saudi Arabia to manage its first position as China’s top supplier for the first two months of 2021, as per the China customs data.
Despite the darkened financial position of Aramco in the fall of crude prices owing to the coronavirus pandemic, the kingdom secured top in the ranking as China’s top crude supplier last year, beating Russia.
Earlier on Sunday, Nasser stated that the Chinese demand was adjacent to the pre-covid times, all while East Asia saw a close pickup.
Notably, the green shift as a commitment to decarbonize is one of Aramco’s priorities for China as well. Last September, Chinese President Xi Jinping made an announcement of cutting down carbon emissions to zero before 2030 and aiming for carbon neutrality by 2060.