Saudi Arabia plans to expand investment in China's energy sector

Saudi Arabia has stated that it wants to expand its investments in China's energy industry throughout all provinces, following discussions during a G20 ministerial meeting. In addition, the Energy Minister said there was scope to grow bilateral trade in both energy and other hydrocarbons products, such as petrochemicals.

Saudi Arabia’s Energy Minister Khalid al-Falih aid he wanted to see new investment projects carried out by Saudi and Chinese sovereign wealth funds. (Source:File/ Reuters) Saudi Arabia’s Energy Minister Khalid al-Falih aid he wanted to see new investment projects carried out by Saudi and Chinese sovereign wealth funds. (Source:File/ Reuters)

Saudi Arabia wants to expand its investments in China’s energy industry, its Energy Minister Khalid al-Falih said late on Friday, part of the world’s top oil exporter’s efforts to boost cooperation with a top customer.

Falih’s comments were made in an emailed statement after discussions with China’s Vice Premier Zhang Gaoli and other officials in Beijing during a G20 ministerial meeting.

“Saudi Arabia is very keen to elevate their partnership in the energy sector to the highest level,” he was quoted as saying in the statement.