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  • Saudi Aramco restarts discussions on 300,000 b/d China refining venture

    Saudi Aramco has restarted discussions regarding a joint project to build a 300,000 b/d refining and petrochemical complex in Northeast China, sources with direct knowledge of the matter told S&P Global Platts Feb. 9, as the oil giant looks to take advantage of surging crude oil prices.

  • Aramco Revives Talks on Multi-Billion Dollar Refinery in China

    Saudi Arabia’s state oil company Aramco has revived discussions to build a multi-billion dollar refining and petrochemicals complex in China, according to several people with knowledge of the matter. Aramco is holding preliminary negotiations about a facility in the Northeastern province of Liaoning with partners including Norinco, a state-owned defense contractor, said the people.

  • China is trying to create a wedge between the US and Gulf allies. Washington should take note

    A successful hedging strategy focuses on deepening engagement with different countries in the region, alienating no one, and not antagonizing the strongest country. It usually starts with stronger economic ties and builds towards deeper political relations, slowly strengthening influence and power in the region. This is an apt description of China in the Gulf over the past twenty years.

  • China, Saudi Arabia agree to enhance military relations

    Khalid bin Salman said the comprehensive strategic partnership between Saudi Arabia and China has been developing steadily, and that the military cooperation between the two countries has yielded substantial results.

  • China is beating the world on yet another climate technology

    But in China, many major emitters, especially state-owned enterprises (SOEs) are lining up as big customers for domestic electrolyzer producers, such that electrolyzer sales there far outpace those in Europe or the US. In a Jan. 21 forecast, energy intelligence firm BloombergNEF said it expects global electrolyzer sales to quadruple in volume in 2022 from last year, with China accounting for two-thirds of demand.

  • Saudi Arabia reports more non-oil exports, large amount of trade with China

    The Saudi General Authority for Statistics said today that non-oil exports in November of 2021 totaled 26 billion Saudi Arabian riyals ($6.9 billion), up from 20.6 billion riyals ($5.5 billion) in November 2020. This constituted an increase of 26.1%. Non-oil exports also increased 9% from October to November 2021, the authority said in a press release.

  • IMF cuts global growth outlook for 2022, US and China recovery wanes

    In its delayed World Economic Outlook report, published Tuesday, the IMF said it expects global gross domestic product to weaken from 5.9% in 2021 to 4.4% in 2022 — with this year’s figure being half a percentage point lower than previously estimated.

  • Perspective: China in the Middle East

    The answer is that China is behaving very much as America did in the first half of the 20th century.  Back then, Britain dominated the Middle East.  Americans thought that what was good for American oil companies was good for the U.S.A., that we should focus on the energy trade and avoid taking sides in foreign disputes, and that the region’s political cultures were something we should study and learn to live with rather than denounce or subvert.

  • Climate, COVID, China: Takeaways from online Davos event

    Speeches and discussions from the likes of Chinese President Xi Jinping and UN Secretary-General Antonio Guterres moved online this week after COVID-19 concerns delayed the forum's annual meeting in Davos, Switzerland.

  • Saudi Arabia expands share in China oil market, Russia lags

    Saudi Arabia retained its top ranking in Chinese oil supplies in 2021, with supplies up 3.1per cent over 2020, and increased its share to 17per cent of total Chinese imports, customs data showed.