Tuesday, December 18, 2012

CNN - Middle East and China forge ties over oil
CNN reports: "When King Abdullah took over the throne in Saudi Arabia, his first foreign visit in January 2006 was to Beijing after an invitation of President Hu Jintao. Six years later, the countries' two state-run energy giants, China's Sinopec and Saudi Aramco, inked a huge oil agreement guaranteeing the Asian nation an additional 400,000 barrels a day from a Red Sea refinery in the Saudi city of Yanbu. This is on top of the estimated one million barrels of oil a day it now orders from the Kingdom."

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