Saudi and Chinese officials confirmed their willingness to work together to support stability in the international oil market.

Prince Abdulaziz Bin Salman, Saudi Arabia’s Minister of Energy, held an online meeting with Zhang Jianhua, National Energy Administrator of the People’s Republic of China.

During the video call, both sides confirmed that they would strengthen bilateral relations between the two countries in the field of energy.

They highlighted the significance of China and Saudi Arabia, as important global energy producers and consumers, regularly exchanging views.

The two sides confirmed their willingness to work together to support the stability of the international oil market, continue close communication, and strengthen cooperation to address emerging risks and challenges.

They also highlighted the importance of long-term and reliable oil supply to stabilize the global market that endures various uncertainties due to complex and changeable international situations, noting that the Kingdom continues to be China’s most reliable partner and supplier of oil.

Discussions between the two sides covered cooperation and joint investments along the Belt and Road countries, as well as investments in integrated refining and petrochemical complexes in both countries and strengthening cooperation in the energy sector supply chain through establishing a regional hub for Chinese manufacturers to utilize the Kingdom’s strategic location linking three continents.

The two sides agreed to cooperate within the framework of the Bilateral Cooperation Agreement in Peaceful Uses of Nuclear Energy between the Chinese and Saudi governments. In addition, both ministers stressed the importance of cooperation in the field of electricity and renewables, and to collaborate in the field of clean hydrogen through research and development.