Saudi Aramco to Explore Further Investment Opportunities in China
Deal News | Mar 24, 2025 | Zawya
Saudi Aramco is pursuing additional investment avenues in China as a critical element of its global strategy, according to CEO Amin Nasser. Speaking at the China Development Forum, Nasser highlighted the company's current ventures in Fujian, Liaoning, Zhejiang, and Tianjin and indicated ongoing efforts to identify further opportunities in energy, chemicals, and technology across the region. Notably, Aramco has embarked on a $9.82 billion joint refinery and petrochemical project with Sinopec Corp in Fujian and acquired a 10% stake in Rongsheng Petrochemical for $3.6 billion. Recognizing China as the world's largest petrochemical consumer, Nasser emphasized the strategic significance of these investments in aligning with the future demand shifts toward petrochemicals. Despite facing a downturn in profits in 2024, Aramco remains committed to enhancing its presence in China, a pivotal market for the future of the petrochemical industry.
Sectors
- Energy
- Petrochemicals
- Technology
Geography
- China – The primary focus of Saudi Aramco's investment initiatives and strategic expansion discussed in the article is China.
- Saudi Arabia – Saudi Aramco, a Saudi Arabian company, is implementing its global strategy via investments in China, as per the article.
Industry
- Energy – The article discusses Saudi Aramco's investments in oil and gas within China, highlighting its strategic focus on these energy resources.
- Petrochemicals – Aramco's ongoing and future projects in China involve refining and petrochemical ventures, which are central to the company's investment strategy.
- Technology – Aramco is also seeking technology-related investment opportunities as part of its broader investment strategy in China.
Financials
- $9.82 billion – The cost associated with the refinery and petrochemical complex project in Fujian in collaboration with Sinopec Corp.
- $3.6 billion – The amount spent by Saudi Aramco to acquire a 10% stake in Rongsheng Petrochemical.
- $106 billion – Saudi Aramco's full-year 2024 net profit, which saw a 12% decline.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Saudi Aramco | Company initiating investment | Company | Saudi Aramco is the world's leading oil exporter pursuing strategic investments in China's petrochemical sector. |
| Amin H. Nasser | President and CEO | Person | Amin H. Nasser is the President and CEO of Saudi Aramco, spearheading the company's strategic investment initiatives in China. |
| Sinopec Corp | Joint venture partner | Company | Sinopec Corp is collaborating with Saudi Aramco on a joint refinery and petrochemical complex in Fujian, China. |
| Rongsheng Petrochemical | Investment recipient | Company | A Chinese petrochemical company in which Saudi Aramco acquired a 10% stake for approximately $3.6 billion. |