Saudi Arabian Oil : CEO remarks at the 2020 China Development Forum

In particular, our acquisition of SABIC with its world-class chemicals capabilities, combined with Aramco's world-leading strength as an energy supplier, means we now offer a one-stop-source to China. One that is ready to enhance China's autonomy in vital areas, add value inside China working with Chinese companies, and help to generate innovative and sustainable growth.

For example, we can now offer China what it needs to produce advanced materials domestically. From bulk petrochemicals and specialties to advanced composites which can substitute materials that emit a lot more carbon during the production phase such as steel, other metals and alloys, and concrete.

We are at an advanced stage of developing futuristic technologies that convert crude oil directly into petrochemicals, including our flagship Catalytic Crude to Chemicals process being piloted with Tsinghua University in Beijing. And we are developing new, cutting-edge, non-metallic materials, whose production emits far less carbon, for use in sectors like construction, housing, and renewables.