The Saudi Minister of Petroleum and Mineral Resources, Ali Al-Naimi, today held a meeting with the Vice-President of China’s State Council, Zeng Peiyan, in Beijing.
During the meeting, Al-Naimi conveyed the greetings of Custodian of the Two Holy Mosques King Fahd bin Abdul Aziz, Crown Prince Abdullah and the Second Deputy Premier to the Chinese President and his government, and expressed the Kingdom’s wish to foster good relations with China.
Al-Naimi later held meetings with the Chinese Minister of Commerce, Yu She Lai, and President of Seunbek Company Chin Tong Kai.
During the meetings, Al-Naimi discussed with the Chinese officials cooperation between the Kingdom of Saudi Arabia and China in oil and mining sectors.
Following the meetings, Al-Naimi said in a statement to the Saudi Press Agency (SPA), that his visit to China is aimed at promoting the distinguished ties between the two countries in all fields, particularly in oil and mining sectors. The two sides are seeking to boost ties by exchanging visits and information, conducting joint studies and meeting shared needs. He said that cooperation would focus on the following three areas:
An increase of Saudi petroleum sales to China, the world’s second largest oil consumer, with the greatest increase in the rate of oil consumption. China imports over 300,000 barrels per day from the Kingdom – a quantity that the Kingdom seeks to augment.
Finalising plans for joint oil projects, such as the agreement between Saudi Aramco and Seunbek Company for gas exploration and production in zone ‘B’ of the Rub’ Al-Khali and the agreement for establishment of a refinery in Fujian Province to refine, distribute and market Saudi oil within China and abroad.
Investment in a project to construct a railway from the north of the Kingdom to Riyadh, Dammam and Jubail for transportation of mineral materials from mines in the north to manufacturing sites and export stations along the Gulf. China is internationally renowned for its technical skills in railway construction.
Al-Naimi said that talks also focused on the possibility of China’s participation in exploration for phosphates and raw bauxite, regarding which China has expressed readiness and interest.
The Minister briefed the Chinese side on the situation of the global oil market and the Kingdom’s stance towards various issues, including market.
The Saudi Ambassador to China, Dr Mohammed Al-Bishr, and Al-Naimi’s accompanying delegation attended the meetings.
Source: SPA
