The president of the hottest Saudi Aramco said tha

2022-08-01
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The president of Saudi Aramco said that energy companies should be encouraged to invest in each other. According to the news from Beijing, China, on March 20-22, the "2010 annual meeting of China development high level forum" hosted by the development research center of the State Council was held in Diaoyutai State Guesthouse in Beijing. The chinadevelopmentforum was established by the development research center of the State Council in 2000. Its purpose is to listen to the voice of the world and explore China's development path. At present, the annual conference has been successfully held for 10 sessions, and has become one of the important channels for high-level exchanges and discussions between the Chinese government, domestic and foreign business circles and academic circles on major issues of China's economic and social development

the following is the speech of Khalid Falih, President of Saudi Aramco, at this forum

Khalid Falih, President of Saudi Aramco, said at the China Development Forum today that mutual investment between companies in the energy field should be further encouraged

Falih said that coal, oil and natural gas will continue to account for more than 80% of global energy consumption before 2030, but considering the impact of the environment, each country must strengthen cooperation in the field of environmental protection

Falih said that mutual investment between companies in the energy sector should be further encouraged. "For example, Saudi Aramco and SINOPEC are now establishing joint ventures, not only in China, but also in Saudi Arabia. Our cooperation model has been very perfect, and we also hope to have more corresponding cooperation projects in the future."

in addition, he said that in order to encourage more strategic investment in the Chinese market, Saudi Arabia must ensure to relax the barriers to import blameless oil products, certification and pricing. For example, the price of domestic oil products should be more in line with international standards

the following is the actual record of Khalid Falih's speech

Falih: at present, we have made some progress in alternative energy. Of course, we welcome this. But considering that we will have a large amount of energy demand in the next few decades, oil will continue to play a very important role in helping to meet the energy needs of people in China and other countries in the world. Through today's forum, we have also heard China's determination to further promote industrialization and urbanization. At the same time, we have seen that China's car ownership continues to increase, many trucks and locomotives also appear on China's roads, as well as shipping and air transport, which will put forward higher requirements for fuel demand. Globally, coal Oil and natural gas will continue to account for more than 80% of global energy consumption or demand, at least until 2030

therefore, ladies and gentlemen, in the automotive industry, we still believe that we have the ability to help meet such growing demand, whether it is crude oil, natural gas, refined oil or petrochemical products. If we consider the fact that every economic activity depends on petroleum oil or gasoline or other auxiliary products to some extent, you will realize that this is a very realistic thing, I recently mentioned three tasks that the industry must meet to achieve

first, ensure adequate supply of oil. There are many underground gasoline resources in our earth, but we must make timely and wise investments to provide Gasoline Based Products reliably and continuously throughout the value chain. Provide these products to end users

second, we should ensure that the product price is reasonable. This means that the oil industry should promote economic growth, not hinder development. Although the global economy is currently recovering, it still faces many obstacles. If the energy price is too high, it will certainly hinder the recovery

third, to make oil acceptable as a source of energy, especially considering the impact of the environment, the world will consume tens of billions of barrels of oil in the future, so we must cooperate to ensure that such consumption is environmentally friendly. We also need technological innovation and energy efficiency improvements to defeat this goal. Frankly speaking, no company or wood flour is made by mechanical crushing or an organization. No matter how developed or how good the technology is, it can not solely deal with these challenges and complete the three tasks just mentioned. Therefore, it is necessary to cooperate and strengthen cooperation on energy issues, especially to ensure that the oil supply is sufficient and the price is reasonable. At the same time, the use of oil is also accepted by global suppliers and consumers, Especially for Chinese users, we regard China as our fastest growing market

interdependence is the most important factor for us to achieve these goals and achieve mutual benefit. Our oil industry has always recognized this. Therefore, our global cooperation relationship runs through the entire oil industry. The most obvious example is that the global oil market is an interdependent global market. We measure it by value or volume, The oil industry has always had the most trade, more than any other commodity

oil consuming countries like China need to import oil to develop their economies, but I think for exporting countries like Saudi Arabia, we also need oil income to enable our domestic economy to develop faster and our people to achieve a higher level of welfare. Although many countries are concerned about energy security at present

however, some countries do not realize that this security is not only the security of consumers, but also the security of suppliers. Therefore, considering this, we must make a lot of infrastructure investment to arrange some projects in the oil value chain

of course, the concept of interdependence we just mentioned coincides with the idea of complementarity mentioned by Professor Aoki in his first speech. Unfortunately, in some markets, their energy policies are very unrealistic. In addition, some countries have introduced some policies that are not conducive to energy cooperation. Some of the goals of developing renewable resources are unrealistic. In addition, there are uncertainties in energy regulations, which will affect the prospects of the energy industry. Therefore, we must ensure a clearer future and make corresponding capital investment to ensure that the oil supply we can provide can be realized

finally, I would like to mention four points or four steps we can take to help enhance cooperation in the oil or gasoline industry

first, encourage mutual investment among companies. For example, Saudi Aramco and SINOPEC are now establishing joint ventures, not only in China, but also in Saudi Arabia after 1s. Our cooperation model has been very perfect, and we hope to have more corresponding cooperation projects in the future

second, in order to encourage more strategic foreign investment in the Chinese market, we must ensure that some obstacles to the import of petroleum products, certification and pricing are relaxed. For example, the price of domestic oil products should be more in line with international standards

third, I would like to urge Chinese industrial enterprises to continue to improve their ability to provide more accurate products and higher quality services. At present, as an oil company, we are quite satisfied with the quality, cost and price of materials provided in China. We also hope to do more business with Chinese companies. I think Chinese companies have many opportunities to develop cooperation in this field to make their products and services satisfactory to customers

finally, I would like to encourage us to build a cultural bridge outside the country and beyond business relations, because whether we can have a lasting cooperative relationship depends on the people and our common ideals and values. Over the past decade, we have sent our best people to study in Chinese universities. Now many graduates have worked in the companies and joint ventures we invest in China. Some also went back to serve Saudi Arabia. I think they can help us understand the market and better understand the society and culture. Recently, more and more Chinese students have come to Saudi Arabia university to study. I hope such a cultural bridge can be built

before concluding, I would like to say that I think this kind of interdependence, mutual investment, open trade and cultural exchanges can become the cornerstone of international cooperation, especially in the field of energy. I think it is beneficial for everyone that there is a slight decline in individual varieties in individual regions. Saudi Aramco not only regards itself as a company selling oil to China, It is a strategic partner of multi-level cooperation with Chinese enterprises. Our cooperation is based on mutual respect, dependence and mutual benefit. We are proud and honored to provide our help for China's rapid development. At the same time, through our provision of fuel to China, we hope to better develop our cooperation in the future. I also look forward to working with you to further tap the potential of our cooperation. Thank you

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