China will be a priority for Saudi Aramco. Miners want to secure China’s oil demand for 50 years

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The world’s largest mining company, Saudi Aramco, said China’s energy security is its priority for the next 50 years. Saudi Aramco is already the most important supplier of oil to China. Last year, a Saudi-led mite in supplies to China even outsmal Russia.

“We want to make sure that China’s energy security remains our priority not only for the next five, but for the next 50 years,” Saudi Aramco CEO Amin Nasser said during the China Development Forum.

Saudi Aramco delivered 1.86 million barrels of oil per day in the first two months of this year, up more than 2 percent year-on-year. Saudi Aramco thus became the most important supplier of black gold to China and skipped even Russian mining companies.

Nasser mentioned that China’s demand for oil is already very close to its pre-coronavirus levels, while Asia, and especially its southeastern part, is still lagging behind last year’s demand. The head of Saudi Aramco also said that the company wants to help China in its energy transition towards cleaner energy sources and achieve carbon neutrality by 2060.


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