Saudi Aramco Aims to Double Crude Oil Supply to China By 2010

(Bloomberg) — Saudi Aramco, the world’s biggest state oil company, aims to double its crude oil supply to China by 2010 from about 500,000 barrels a day last year, an official from unit Saudi Petroleum Ltd. said.

Saudi Aramco has signed an agreement with China Petrochemical Corp., the nation’s biggest refiner, to sell 1 million barrels of crude a day by 2010, Mohammed al Madi, a vice president of Saudi Petroleum, said today at a conference in Chengdu in the southwestern province of Sichuan.