Saudi Aramco eyes more diversified development

Saudi Aramco, the world's biggest oil company, plans to expand more to downstream its projects including refineries and retailing, while regarding China as an important market for its global business landscape, Amin Nasser, the president of the energy giant, told CGTN in an interview on the sidelines of the China Development Forum held in Beijing this weekend.

The company would like to expand instead of restricting itself to providing crude oil, he said, noting that it will shift to petrochemicals, and also focus more on retailing and marketing.

With the emerging trend of clean energy, Saudi Aramco, that owns a major gas business, also plans to export clean gas outside the kingdom, he said.

He also mentioned that the Chinese market is strategically important to the company.

"China has always been on our radar screen,"he said, adding that there are many opportunities here, especially with the joint venture it signed in Panjin, northeastern China's Liaoning Province.

The joint venture was signed by Saudi Aramco and NORINCO Group in February to develop a fully integrated refining and petrochemical complex.

(CGTN)