Aramco Ups Investment in Refining and Petrochemical Facilities in China

Saudi Aramco will invest more in the refining and petrochemical businesses in China as the Saudi Arabian oil giant tries to wring more money from every barrel of oil the kingdom produces amid a global shift toward a low-carbon economy, a company executive said.

Aramco’s Senior Vice President of Strategy and Market Analysis Fahad Al-Dhubaib talked up China’s importance to the company’s business in Asia and worldwide. “Our partnerships in China enable us to help create new pathways for growth by working with a country driving the increased integration of refining and petrochemical processes,” Al-Dhubaib told Caixin last month in a written interview.