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On March 17, CNPC and Saudi Aramco held an interecommunions in China's southwestern province Yunnan to discuss cooperation potential between the two companies. Jiang Jiemin and Khalid Al-Falih, on behalf of the two parties respectively, signed an MOU on the refining project in Yunnan and a supplemental agreement for the crude sales agreement. According to the documents signed, the two parties will jointly build the refining project in Yunnan and launch integrated cooperation in terms of resources, processing and marketing. The Yunnan refining project is an auxiliary part of the Myanmar-China oil and gas pipeline. It is the first refining project in Yunnan and is of great significance to meet rapid increasing energy demand in southwest China, so as to facilitate regional economic and social development. |
