1998 News Story

Saudi Aramco to export crude oil to China

Saudi Aramco announced yesterday that a letter of intent had been signed on its behalf by its

President Abdullah Salih Juma'a with the Chinese Petrochemicals Corporation for the export of

Saudi crude oil to the People's Republic of China, and for considering the possibility of

partnership in oil refining and marketing projects there.  Speaking on the occasion, the

President of Aramco said this letter of intent will have a positive contribution to enhancing the

company's trend towards expanding its base as an integrated international company as well as

promoting cooperation between the Kingdom and China.  Saudi Aramco is the largest oil

producing and exporting company in the world, and a partner in oil refining and marketing

projects in the United States, South Korea, the Philippines and Greece.