China, Saudi Arabia eye $65 billion in deals as king visits

[NakedLunch]

China is a natural ally of the Muslims world. It is good to see other Muslim countries develop a closer relationship with China. We should protect each others interests. I believe this can be achieved. Well done to both countries.

 

[war&peace]

More drone export!

With that kind of money, I think we can expect more than drones.....in fact a lot more

 

[NakedLunch]

Bajwa was in China a day ago. Connect the dots and everything becomes clear.

One less spoken but very critical aspect of CPEC is the energy corridor between CGG/Iran and China. Pakistan is the fulcrum of all this.

With SA signing in, rest assured, the like of UAE will also fall in line. More states joining in, mean more economic and strategic inter dependencies created. The likes of Modi and Ajeet Doval need to understand that more they oppose CPEC, the powers to be will start considering them not just a nuisance but impediment in their economic and strategic interests and that may eventually require a surgery to be done.

Saudi Arabia and China getting closer will be a huge advantage to Pakistan. If our two closest allies are close allies of each other as well, now that would be a serious boon for everyone involved.

 

[Taimoor Khan]

Just how Pakistan acted as a bridge for Nixon to create relationship with China back then, it seems, same thing with SA is happening right now.

 

[NakedLunch]

Just how Pakistan acted as a bridge for Nixon to create relationship with China back then, it seems, same thing with SA is happening right now.

Yep.

 

[onebyone]

Beijing, Saudis agree to boost oil exports to China

PUBLISHED : Saturday, 18 March, 2017, 4:14pm
UPDATED : Saturday, 18 March, 2017, 11:08pm

China and Saudi Arabia will increase their cooperation in the oil sector, including in Saudi oil exports to China, the two countries said in a joint communique issued on Saturday at the end of Saudi Arabian King Salman’s visit to Beijing.

The world’s largest oil exporter has been looking to cement ties with the world’s second-largest economy.

After losing market share to Russia last year, Saudi Arabia has sought to boost oil sales to China, the world’s second-largest oil market, by working mostly with China’s top three state oil firms.

China, Saudi Arabia sign US$65 billion in deals as King Salman starts Beijing visit

“Both countries are willing to raise their level of cooperation in the oil sector, including supplying Saudi oil to the continuously growing Chinese market,” the two said in a statement issued by China’s state-run Xinhua news agency.

“Both sides stress the importance of stability in world oil markets to the global economy ... China appreciates Saudi Arabia being a safe and dependable oil supplier to the world market and the role it plays in ensuring the stability of the global oil market,” it said.

Salman oversaw the signing of deals worth as much as US$65 billion on the first full day of his visit to Beijing on Thursday.

China has traditionally played little role in Middle East conflicts or diplomacy, despite its reliance on the region for oil. However, it has been trying to get more involved in efforts to end Syria’s six-year-old civil war,where Riyadh supports rebels battling President Bashar al-Assad.

Chinese defence manufacturers are also targeting potential clients in the Middle East. At an Abu Dhabi defence exhibition in the United Arab Emirates last month China signed a memorandum of understanding with Saudi Arabia worth US$65 billion, including setting up a production line for China’s new generation aerial drone, Rainbow 4 and other collaborative projects, according to local media reports.

The Rainbow 4, which is able to carry two satellite-guided bombs, was developed by China Aerospace Science and Technology Corporation for reconnaissance and military strikes.

Saudi king’s visit puts Beijing in Middle East spotlight

China last year also offered support for Yemen’s government, which is backed by a Saudi-led Gulf Arab coalition in a war against the Iranian-aligned Houthi movement that controls much of the country.

China has had to tread a careful line as it also has close relations with Iran. China’s President Xi Jinping visited both Saudi Arabia and Iran in January last year.

The joint statement said both China and Saudi Arabia stressed their support for Yemen’s legal government.

China’s renewed diplomatic push with the Middle East continues next week when Israeli Prime Minister Benjamin Netanyahu visits China.

Diplomatic sources say China is trying to play the role of “honest broker” in the Middle East as it lacks the historical baggage of the Americans or the Europeans.

Additional reporting by Minnie Chan


This article appeared in the South China Morning Post print edition as:
Riyadh and Beijing look to boost oil sector ties

http://www.scmp.com/news/china/dipl.../beijing-saudis-agree-boost-oil-exports-china

 

[Qutb-ud-din Aybak]

Indirectly Pakistan is involved. Also it's the reason iran is begging to join CPEC.
Iran is enemy of saudi arabia because it wants the saudi weak and themselves strong. Such jealousy is not allowed in islam.

 

[LowPost]

Not a fan of Saudi Arabia for obvious reasons but I like this development. Learning about the prevalence of anti-China (as well as anti-Russia) paranoia in Iran makes me appreciate this even more.

Whilst I personally have faith in China-Iran cooperation, if nothing comes out of it due to the latter acting up as a result of its victim mentality, it will make sense to make Iran learn the hard way about how direly it is in need of China's hand to aid its own development and its struggle against AngloZionist aggression by playing it off against the Saudis, as much as I want China to not get dragged into the Saudi-Iranian quagmire.

 

[salarsikander]

if nothing comes out of it due to the latter acting up as a result of its victim mentality

Not only that, but coupled with misplaced ego and fake pride. damn the dangerous combination.

No wonder this century is of Chinese. Humble and hard working people. Give them anything and they will just built it

God speed to development. May Almighty protect Arabia from its enemies.

Indirectly Pakistan is involved. Also it's the reason iran is begging to join CPEC.
Iran is enemy of saudi arabia because it wants the saudi weak and themselves strong. Such jealousy is not allowed in islam.

Cough*cough* Chabhar

 

[Sully3]

China saudi friendship is another milestone in our life times.

interesting that the saudis need the chinese more then the chinese need them as saudia is trying to diversify its economy

 

[LowPost]

Not only that, but coupled with misplaced ego and fake pride. damn the danegrous combination.

My view is based on the attitude of the PDF Iranians so this might be a rather sketchy description. To be fair, I have seen Iranian-flagged members with a favourable view of China but I also read on PDF that China is being scapegoated. :/

 

[samsara]

Beijing, Saudis agree to boost oil exports to China

PUBLISHED : Saturday, 18 March, 2017, 4:14pm
UPDATED : Saturday, 18 March, 2017, 11:08pm

China and Saudi Arabia will increase their cooperation in the oil sector, including in Saudi oil exports to China, the two countries said in a joint communique issued on Saturday at the end of Saudi Arabian King Salman’s visit to Beijing.

The world’s largest oil exporter has been looking to cement ties with the world’s second-largest economy.

After losing market share to Russia last year, Saudi Arabia has sought to boost oil sales to China, the world’s second-largest oil market, by working mostly with China’s top three state oil firms.

China, Saudi Arabia sign US$65 billion in deals as King Salman starts Beijing visit

“Both countries are willing to raise their level of cooperation in the oil sector, including supplying Saudi oil to the continuously growing Chinese market,” the two said in a statement issued by China’s state-run Xinhua news agency.

“Both sides stress the importance of stability in world oil markets to the global economy ... China appreciates Saudi Arabia being a safe and dependable oil supplier to the world market and the role it plays in ensuring the stability of the global oil market,” it said.

Salman oversaw the signing of deals worth as much as US$65 billion on the first full day of his visit to Beijing on Thursday.

China has traditionally played little role in Middle East conflicts or diplomacy, despite its reliance on the region for oil. However, it has been trying to get more involved in efforts to end Syria’s six-year-old civil war,where Riyadh supports rebels battling President Bashar al-Assad.

Chinese defence manufacturers are also targeting potential clients in the Middle East. At an Abu Dhabi defence exhibition in the United Arab Emirates last month China signed a memorandum of understanding with Saudi Arabia worth US$65 billion, including setting up a production line for China’s new generation aerial drone, Rainbow 4 and other collaborative projects, according to local media reports.

The Rainbow 4, which is able to carry two satellite-guided bombs, was developed by China Aerospace Science and Technology Corporation for reconnaissance and military strikes.

Saudi king’s visit puts Beijing in Middle East spotlight

China last year also offered support for Yemen’s government, which is backed by a Saudi-led Gulf Arab coalition in a war against the Iranian-aligned Houthi movement that controls much of the country.

China has had to tread a careful line as it also has close relations with Iran. China’s President Xi Jinping visited both Saudi Arabia and Iran in January last year.

The joint statement said both China and Saudi Arabia stressed their support for Yemen’s legal government.

China’s renewed diplomatic push with the Middle East continues next week when Israeli Prime Minister Benjamin Netanyahu visits China.

Diplomatic sources say China is trying to play the role of “honest broker” in the Middle East as it lacks the historical baggage of the Americans or the Europeans.

Additional reporting by Minnie Chan


This article appeared in the South China Morning Post print edition as:
Riyadh and Beijing look to boost oil sector ties

http://www.scmp.com/news/china/dipl.../beijing-saudis-agree-boost-oil-exports-china

Saudi can surely boost its oil sales to China if it will expand its oil price denomination to also include the Chinese yuan... stepping out the current dictate of the sole Petrodollar scheme!

Still looking forward for the long postponed operation of Yuan-denominated Oil Bourse in China (Shanghai ?) (in addition to the West Texas Intermediate (WTI), Brent Blend, and Dubai Crude), the following-up step after the Shanghai Gold Exchange International Trade (i.e. physical gold trade priced in yuan)

 

[Jlaw]

My view is based on the attitude of the PDF Iranians so this might be a rather sketchy description. To be fair, I have seen Iranian-flagged members with a favourable view of China but I also read on PDF that China is being scapegoated. :/

I've been visiting Iranian defense section and find many Iranian members with big egos. They remind me of Indian members. What an eye opener for me.

 

[TaiShang]

China is a natural ally of the Muslims world. It is good to see other Muslim countries develop a closer relationship with China. We should protect each others interests. I believe this can be achieved. Well done to both countries.

China does not think along religious line, my friend. It means really nothing; it does not generate any feelings of fraternity or partnership.

China deals with nations, not clans. Saudi Arabia is one of them. That's the reason China vetoed US-sponsored resolutions against Syria at the UNSC. For the same reason, it vetoed UK-sponsored resolution against one of our neighbors, Myanmar.

Keep in mind that China has established close technological cooperation with Israel, as well. I guess PM Netanyahu is in China as we speak, or will soon pay a visit.

Nobody is special or less because of their particular belief. What matters is nation state; China does not recognize any affiliation beyond the nation state.

 

[Shotgunner51]

China Investment Corp. in talks to be principal investor in Saudi Aramco IPO
By Bloomberg | March 16, 2017 11:27 am | Updated 11:52 am

Saudi Arabia King Salman bin Abdulaziz is meeting with Chinese officials this week in advance of the IPO.
​

China is in talks with Saudi Arabia for its sovereign wealth fund and largest energy company to invest in the initial public offering of the Middle East nation's state oil producer, according to people with knowledge of the matter.

The nation's $814 billion China Investment Corp. would be the principal investor in the planned flotation by Saudi Arabian Oil Co., according to the people, who asked not to be identified because the talks are private. China National Petroleum Corp. may also invest in the IPO, they said. No formal agreement has been reached, according to the people.

Saudi King Salman bin Abdulaziz is visiting Beijing this week as the world's biggest oil exporter gears up for what may be the largest-ever initial public offering. Hong Kong is among markets including London, New York, Singapore and Tokyo that have been identified as possible venues for the sale of 5% of the company, which is valued between $400 billion and $2 trillion.

China, the world's biggest energy user, is growing more reliant on overseas crude as its domestic reserves dwindle and economic growth spurs higher demand.

“It is a win-win if China can take a sizable stake in the Aramco IPO,” said Gordon Kwan, head of Asia-Pacific oil and gas research at Nomura Holdings Inc. in Hong Kong.

“China needs to ensure oil supplies from Saudi Arabia, given the structural decline of the country's aging mature fields. Saudi Arabia can ensure market share in China, which might want to insist Aramco be listed in Hong Kong instead of London or the U.S.”​

A spokesman for Dhahran-based Aramco said the company doesn't comment on rumor or speculation. A spokesman for CNPC in Beijing also declined to comment, while CIC didn't respond to an emailed request for comment.

Chinese officials last year pitched a dual listing for the oil giant, known as Saudi Aramco, that would place the shares on both the Hong Kong and Saudi exchanges in return for anchor investments from Chinese funds, Bloomberg News reported.

Energy accounted for about 5% of CIC's holdings in overseas publicly traded companies at the end of 2015, according to its most recent annual report. Chief Risk Officer Zhao Haiying said earlier this month that the fund intends to raise its share of alternative investments, such as real estate, private equity and hedge funds, over the medium to long term.

Saudi Aramco has partnered with units of China Petrochemical Corp., known as Sinopec, on projects in both countries, while it has been in talks with CNPC's listed unit PetroChina Co. on a refinery in China's Yunnan province. The Middle Eastern company signed a combined $13 billion of refining deals during the king's recent visit to Malaysia and Indonesia as it seeks to secure long-term outlets for its crude before the IPO.

http://www.pionline.com/article/201...-to-be-principal-investor-in-saudi-aramco-ipo