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FINANCIAL NEWS
Aramco signs cooperation MoU with CNPC
23 Dec 2010
(MENAFN) Ibrahim Al-Naimi, Saudi Minister of Petroleum and Mineral Resources said that Aramco signed a memorandum of understanding (MoU) with China National Petroleum Corporation (CNPC), the parent of PetroChina, for further cooperation, reported the Saudi Gazette.
Al-Naimi said that the MoU included collaboration on refinery and petroleum engineering projects, technology service and equipment supply as well as the expansion of crude oil trades. The ministry is very open to further collaboration projects with CNPC.
On the side, there were further talks between CNPC president and the Chief Executive Officer of Saudi Aramco Khalid A. Al-Falih, on further expansion of cooperation in oil trading as well as the filed of oil refining and engineering.
It is noteworthy that Saudi exports of crude oil to China this year have reached around 36.66 million metric tons.
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