The role of Saudi Arabia in the international oil market?
In 2004, the international oil market has had a huge change. At the time, because the oil demand growth faster, output growth in non-opec oil producing countries cannot meet this need. In this context, the Saudi make major decisions, increase oil production, in order to satisfy the demands of the world's oil. Invest $4 billion in the first stage, the Saudi production capacity will be increased from 10.5 million barrels per day to 11 million barrels per day. The second phase is from now to 2009, Saudi Arabia will invest $10 billion, nissan can promote 1.5 million barrels a day, up to 12.5 million barrels per day. If you then still cannot meet the world demand for oil, Saudi Arabia plans to further enhance capacity, to 15 million barrels per day. Saudi Arabia's oil fields to the production level, there will be no any problem.
Saudi Arabia, the oil reserves accounted for a quarter of the world's "oil kingdom", surprisingly, the economy, the oil industry, is a with no blood relationship, royal has run over years old engineer. This person is Saudi oil and mineral resources minister nuaimi suggesting.
According to the report, at a conference, although familiar with naimi image, but it is hard to believe, in the sight of the friendly Arab old man, is speculating in word and deed can make the international oil market of Saudi Arabia's oil minister. His height of 1.6 meters, dressed in traditional Arab white robe, wearing a white turban and a graying mustache, hanging chest also attended the activities of the identity CARDS. Some say Mr Naimi, this person, the epitome of modern petroleum industry rise is Saudi Arabia.
Saudi cooperation with Chinese origin
Mention energy co-operation between China and Saudi Arabia, naimi charting. He said, China and Saudi Arabia in energy cooperation is booming. Saudi Arabia has become China in west Asia and north Africa's biggest trading partners, including oil trade occupy the important position.
Naimi said, in his first visit to China in 1991 shortly after the formal establishment of diplomatic relations between sand. So far, he has visited more than ten times. "Specific figures more even can't remember myself, almost a year on average will visit China once". The first time that China has required oil imports from Saudi Arabia, naimi said: "how much do you need, we will give how much." Neuilly is often runs to China, has become China's old friends, so to speak.
Unable to control prices, but can ensure supply
To maintain the common interests of China and Saudi Arabia on the oil trade, the most important thing is what?
China and Saudi Arabia need a stable international environment. If the global economy affected by oil prices have led to the economic growth slowed down, then, worldwide demand for oil would also be affected. So, in the sand between the two countries both need a peaceful and stable international environment, also need to maintain relatively stable international oil supply, to prevent instability in the Middle East and the international oil market disruption or sharp fluctuations in the price. China and Arab countries should unite as one, support each other.
Saudi Arabia is currently China's largest oil imports. According to the Chinese embassy in Saudi Arabia, China's import 4.12 million tons of oil from Saudi Arabia, fell 22% year on year, but a month earlier; In march of this year China's oil imports from Saudi Arabia, 3.98 million tons. In addition, China April from Angola to import crude oil 3.98 million tons, up 39% from a year earlier. And in April, China's imports from the other OPEC countries, including Iran for a total of 2.76 million tons of crude oil fell by 5.1%.