[EN-BIZ] China Surpasses US as Largest Saudi Aramco Customer

Davos: Saudi Arabian Oil Co., better known as Saudi Aramco, the world’s biggest crude producer, is exporting about 1 million barrels a day to China , more than to the U.S. , Chief Executive Officer Khalid al-Falih said.

“We are already exporting more to China than to the U.S. ,” he said yesterday in an interview with Bloomberg in Davos , Switzerland . “We are prudent and careful about where to invest but our eyes are focused on China and we will continue to look for all opportunities.”

The U.S. imported 1.014 million barrels of oil a day from Saudi Arabia in the nine months through September, according to the Energy Information Administration. China and Saudi Arabia aim to boost trade 50 percent to $60 billion by 2015, the state- owned Saudi Press Agency reported this month, citing Chinese Trade Minister Chen Deming.

Source : STA-Online, 29.01.10.