Aramco’s MOUs with China


A new framework agreement that offers growth and business development opportunities for both companies through downstream investment and technology collaboration, including, Saudi Aramco’s equity participation in CNPC’s refining and retail business, and assets associated with CNPC’s refineries in Yunnan and Guangxi.


A new agreement which charges both companies to seek investment opportunities in the energy and chemical sectors in the Kingdom including an assessment of the feasibility of using Saudi Aramco’s crude oil grades as feedstock for ChemChina’s refineries, supplying crude oil supplies to ChemChina refineries through a term Crude Oil Sales Agreement (COSA) that will begin 2017, as well as a range of solar and technology applications.


A cooperation framework agreement to explore various investment opportunities in Saudi Arabia that could result in the first independent power production model in the Kingdom of Saudi Arabia, potentially elevating the efficiency of Saudi Arabia’s power grid and opening the public sector to the effectiveness and efficiencies of private partnerships.

China International Capital Corporation (CICC)

A new agreement to leverage their expertise and insights for strategy development, evaluation, and the scouting of new opportunities in China, including potential investments in China’s downstream oil sector such as refining, marketing and storage, crude and refined oil products trading, and equipment materials and components sourcing.

Yinchun Investment Company and the Guangzhou Industrial Development Corporation in partnership with the Royal Commission for Jubail and Yanbu‘

A new agreement to enable foreign direct investment by Chinese businesses in the Jazan Economic City, and potentially in other key transport and logistics hubs In Saudi Arabia, allowing Chinese businesses to benefit from the ideally positioned logistics hub of Jazan, and the capable and ready labor markets in Saudi Arabia to participate in tomorrow’s next economic success story.

China – Ministry of Energy, Industry and Mineral Resources MoU

The People’s Republic of China: Agreement to Bolster Energy Ties

A new agreement to examine further strengthening energy sector cooperation and increased bilateral trade and investments in areas such as energy security, investments in integrated refining and oil-derivatives projects, energy technologies and innovation, renewables, and power and atomic energy sectors.

Under the agreement, China and Saudi Arabia agree for the first time to explore cooperation for strategic oil storage in China, enhancing the country’s energy security. The cooperation agreement calls for joint studies into the utilization of existing crude oil storage facilities in China, as well as joint research and training related to storage, associated technologies, and distribution.