Saudi Aramco will increase its oil export to China

Saudi Aramco plans to increase oil output to China, said Khalid Al-Falih.

According to Khalid Al-Falih, the company sees great opportunities in China due to restructuring of economic growth model.
Saudi Aramco continues seeking opportunities to cooperate with Chinese partners at domestic and international markets, he added.

It is to be recalled that China and Saudi Arabia confirmed their commitment to bilateral cooperation in energy sector a year ago, in March 2014.
Then the parties obliged to strengthen the cooperation in energy, trade and mining operations.

The biggest oil import comes from Russia, Saudi Arabia, Angola and Iran.
The output from Saudi Arabia to China reached 49,7 mln tons of oil in 2014.
Own oil production reached 210 million tons.

Oil import from Iran increased for 48% – up to 630000 bar / day in the first half of 2014.
It was the peak amount from the very start of deliveries, but in September 2014 the country cut its oil import for 30%.