The Wider Ramifications Of A China-Aramco Deal

The Saudi government is indeed in advanced talks with several Chinese entities – sovereign wealth funds and oil companies – to sell a 1 per cent stake in its flagship company, Saudi Aramco, OilPrice.com can confirm from a number of banking and oil industry sources close to the deal.The sale of such a strategic stake in such a key company in Saudi Arabia to a Chinese entity would mark a decisive shift of power in the Middle East towards China and away from the U.S., further fracturing the already-strained 1945 core relationship agreement…