Saudi Arabia, China discuss establishing petrochemical JVs

Prince Abdulaziz bin Salman Al Saud, Saudi Arabia's Minister of Energy, held a meeting in Riyadh with Zhang Jianhua, Chairman of the National Energy Authority of the Republic of China, Saudi Press Agency reported.

The two parties discussed ways to boost ties between the two countries in various fields of energy, to achieves the goals of Saudi Vision 2030 as well as China's Belt and Road Initiative.

They also discussed the importance of ensuring safe energy supplies in the markets and establishing petrochemical joint ventures (JV) to convert crude oil into petrochemicals. This also includes the innovative uses of hydrocarbons as well as the peaceful uses of nuclear energy and fuel.

Both countries endeavor to enhance cooperation in the supply chains of the energy sector, which contributes to enhancing their flexibility and effectiveness.