Saudi Arabia, China boost energy ties

China

HANGZHOU, September 5, 2016 – China and Saudi Arabia have reached a number of joint development agreements, officials said Monday. De deals were concluded on the sidelines of a G-20 gathering in Hangzhou, which ends later on Monday.

According to a Saudi official, a new crude oil storage facility in China was among the proposals discussed during meetings. The talks also saw Saudi Aramco reach a strategic partnership agreement with China National Petroleum Corporation on refinery investments, marketing efforts and project development, the Saudi Press Agency reported.

The Saudi delegation, headed by Deputy Crown Prince Mohammed bin Salman, also discussed security, including the security of crude supplies in the waters surrounding the Arabian peninsula.

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