RIYADH: Chinese President Hu Jintao, who begins a high-profile three-day official visit to Saudi Arabia today, will witness the signing of a major energy accord between Saudi Aramco and China Petroleum and Chemical Corp. (Sinopec), Asia’s biggest oil processor.
The agreement calls for cooperation in crude supply and the refinery sector that will give a significant role to Sinopec to provide engineering services to two refineries in the Kingdom without having any stake in the plants.
“Besides energy cooperation, President Jintao’s visit aims to boost Saudi-Chinese links in all sectors, while it will also give a new fillip to GCC-Chinese ties,” said Y. Yuan, a spokesman of the Chinese Embassy, here yesterday.