In a recent announcement that went virtually unnoticed in the Western media, an official of Saudi Aramco -- Saudi Arabia's national oil company -- stated that Saudi Arabia aims to double its oil exports to China from last year's levels, reaching 1 million barrels per day by 2010. Should this goal be realized, China will soon rival the United States and Japan as one of the top destinations for Saudi petroleum.
In addition, the China National Petrochemical Corporation (Sinopec) already has an agreement with Iran to buy 250 million tons of liquid natural gas from the country over 30 years, and to develop the Yadavaran oil field, which could yield up to 150,000 barrels per day over 25 years. ...
To read the rest, sign up to try World Politics Review
- TWO WEEKS FREE.
- Cancel any time.
- After two weeks, just $11.99 monthly or $94.99/year.
Request a free trial for your office or school. Everyone at a given site can get access through our institutional subscriptions.
- Diplomatic Fallout: Having Tried Hope, Obama Turns to Fear to Reaffirm U.S. Power
- The Realist Prism: Though Politically Attractive, U.S. ‘Train and Equip’ Missions Often Disappoint
- Diplomatic Fallout: Despite Fighting Words, NATO Haunted by Three Recent Defeats
- China Buys Up European Assets to Push Back Against U.S. Free Trade Deals
- Strategic Horizons: The Price of Defeating the Islamic State