Saudi Aramco sets up its new regional office in Beijing

The Kingdom of Saudi Arabia's national oil firm aka Saudi ARAMCO has opened its Asian headquarters in Beijing, in recognition of the strategic importance of Asian markets to the company. ARAMCO Asia, a wholly-owned subsidiary of Saudi ARAMCO, will serve as a business and cultural link between Saudi Aramco and China. ARAMCO's senior vice-president Abdurrahman Fahd Al-Waheeb told the Saudi state news agency (SPA) that the company's new office in Beijing will act as a center of activities and investment opportunities arising from capital projects in the Kingdom of Saudi Arabia and the Asia continent. He said Saudi Arabia is open for Chinese and other Asian companies, with ample investment opportunities in many sectors. Aramco Asia manages the interests of two joint ventures in China namely: Fujian Refining & Petrochemical Co Ltd (FRPC) and Sinopec Senmei Petroleum Co Ltd. Both companies are based in the eastern province of Fujian. Aramco Asia is preparing to market chemical products from FRPC tapping into China’s petrochemicals market, in line with the goal of the parent Saudi Aramco to become a major global leader in oil refining and petrochemical products by 2020.