China and Saudi Aramco Eye Oil Security with Hormuz Deal Possible
China’s National Energy Administration said deputy administrator Song Hongkun met Saudi Aramco Downstream President Mohammed Y. Al Qahtani in Beijing on June 9 to discuss energy security and oil and gas cooperation. The meeting came as Saudi crude shipments to China fell, with Aramco sending about 12 million barrels for July and cutting prices by $6 a barrel. Chinese refiners delayed two major projects due to Middle East supply uncertainty.
