Monday, April 24, 2006

Bilateral Relations: China's President emphasize China's need for oil while visiting Saudi Arabia

EUNN, reports China's President, Hu Jintao, has emphasized China's need for oil while visiting with King Abdullah in Riyadh.

Hu and King Abdullah signed a series of cooperative agreements following including a framework cooperation agreement in the energy field between Sinopec and Saudi Aramco.

The deal provided for strengthening cooperation in gas exploration and possible cooperation in oil exploration between China's Sinopec and Saudi state oil conglomerate Aramco.

Sinopec is drilling for gas in the Saudi desert and building a refinery with Aramco in the Chinese province of Fujian. Another joint refinery venture is planned in Qingdao city.

Also signed were a security agreement and accords on cooperation in health and youth affairs.