Riyadh – Mubasher: Saudi Aramco has signed several oil sales deals to supply five Chinese customers with 151,000 barrels per day (kbpd) of crude oil by 2020, compared to their 2019 supply contracts.

The newly signed sales agreements further solidify the Company’s position as China’s top crude supplier, according to Aramco’s statement on Thursday.

The five deals were signed separately on the sideline of the second China International Import Expo (CIIE), the largest trade fair held under the patronage of Chinese President Xi Jinping.

“The new agreements signed at CIIE reflect Chinese customers’ continued faith in Saudi Aramco’s supply stability and operational excellence. Likewise, the new agreements demonstrate our continued commitment to the world’s fastest-growing oil market,” Ahmed Al-Subaey, vice president of marketing, sales and supply planning at Saudi Aramco, commented.

It is worth mentioning that this is the second time for Aramco to attend CIIE.

In 2018, Aramco signed a number of crude oil sales agreements with Chinese customers that helped to propel Chinese crude oil sales in 2019 to new levels.