Related Articles
Forward article link
Share PDF with colleagues

Saudi Aramco looks east for new downstream oil opportunities

Saudi Arabia has positioned itself as the crude supplier of choice for Asia-Pacific and is quietly cornering the region's refining market as well, writes Digby Lidstone

SAUDI ARABIA sent its first tanker of crude oil to a refinery in China's southern province of Fujian in spring 2008. In terms of the global ebb and flow of crude, the cargo was insignificant. But for state-owned Saudi Aramco, it was symbolic of a shift in focus from western to eastern markets. It also marks a shift in downstream strategy. Bound from Ras Tanura, the 0.9m barrels of oil were transported to Fujian Refining and Petrochemical, a $5bn joint venture between Aramco, ExxonMobil and China's state-owned Sinopec. The plant exemplifies Saudi Arabia's new approach to its downstream businesses – taking stakes in foreign facilities and building downstream assets close to home. Of the new

Also in this section
The future is supercharged
11 August 2017
Electric vehicles are increasingly central to government policy and car manufacturers' plans alike. What does their uptake mean for the energy sector?
Uganda-Tanzanian pipe dream
10 August 2017
The Uganda-Tanzania oil pipeline route is close to becoming a reality. Kenya will have to go it alone
Maputo takes the plunge, Dar looks on
10 August 2017
Mozambique and Tanzania both have gas reserves likely to support extensive LNG exports, but only one of them is truly committed to exploiting them—at least for now