Aramco deepens strategic ties with Chinese partners at the 8th IPEC

• Aramco reaffirmed its commitment to deepening cooperation with Chinese partners at the 8th Interregional Petroleum and Natural Gas Enterprise Conference (IPEC), held in Zhoushan, Zhejiang Province from October 21 to 23.

Aramco Asia participated in the 8th Interregional Petroleum and Natural Gas Enterprise Conference (IPEC) in Zhoushan, Zhejiang, with Nasser M. Lasloom, Senior Vice President of Downstream Business Development, delivering a keynote speech on behalf of the company.

In his keynote, Nasser underscored the dual imperative of energy security and sustainability. He emphasized that while oil and gas remain foundational to the global economy, the path forward must include reducing emissions, enhancing efficiency, and investing in innovative technologies.

Lasloom highlighted Aramco’s ongoing efforts in China, including:

• Carbon Reduction Initiatives: Lowering operational carbon intensity and advancing carbon capture, utilization, and storage.
• Strategic Partnerships: Supplying over half of the crude intake at ZPC, China’s largest integrated refining and petrochemical complex, and forming new joint ventures in Fujian and Liaoning.
• Innovation in Materials and Mobility: Collaborating with Chinese partners to develop low-carbon building materials and advanced powertrain technologies.
• Community Investment: Renovating basketball courts in Beijing with sustainable materials and committing to a USD 7 billion venture capital fund focused on sustainability and growth.

“Our partnership with China is built on a shared vision,” Lasloom concluded. “Under China’s dual circulation strategy and Saudi Arabia’s Vision 2030, we are reaching new heights together.”

Themed “Deepening Open Cooperation to Jointly Build a Green, Low-Carbon, and Sustainable Commodity Market,” the three-day event attracted 366 enterprises, including 40 Fortune Global 500 companies, and welcomed 120 high-level guests and featured speeches from global energy leaders such as Vitol, BP, Honeywell, and S&P Global, serving as a high-standard platform for international collaboration and tangible outcomes.