A regional center for Chinese factories is expected to be developed in the kingdom, the Saudi energy minister says
Energy cooperation between China and Saudi Arabia is set to be strengthened as the two nations plan to secure supply chains in the sector, according to Saudi Energy Minister Prince Abdulaziz bin Salman.
His statement came during a visit to Saudi Arabia by Chinese President Xi Jinping ahead of a Chinese-Arab summit that kicks off in Riyadh on December 9. The Chinese delegation is expected to sign over 20 tentative agreements worth 110 billion riyal ($29 billion) with Saudi Arabia covering energy, security and investments.
“Saudi Arabia and China endeavor to enhance cooperation in the energy sector supply chains, by establishing a regional center for Chinese factories in the kingdom by taking advantage of the kingdom’s distinguished location among the three continents of Asia, Africa and Europe,” the minister said in a statement issued to the Saudi Press Agency on Wednesday.
He added that Saudi Arabia would remain a reliable partner for China in the energy sector as well as in ensuring global oil market stability. The minister highlighted that the countries are deepening cooperation and joint investments, including those in China’s Belt and Road Initiative and integrated refining and petrochemical complexes in both countries.
READ MORE: OPEC+ puts oil production plans on hold
According to Chinese customs data, Saudi Arabia is China’s top oil supplier in the first ten months of 2022, making up 18% of China’s total crude oil purchases, with imports totaling 73.54 million tons, or 1.77 million barrels per day.
China is the kingdom’s largest trading partner, with mutual trade worth $87.3 billion in 2021. Chinese exports to Saudi Arabia reportedly reached $30.3 billion, while China’s imports from the kingdom amounted $57 billion.
https://www.rt.com/business/567874-china-saudi-arabia-energy-center/
US Army Secretary Dan Driscoll is preparing to leave the Trump administration after what a new report has described as months of tension with Secretary of War Pete Hegseth, potentially triggering another change at the army’s top echelons.
According to the Friday report by The Wall Street Journal, Driscoll is expected to step down before the end of the year and could leave his post earlier. The newspaper cited people familiar with discussions over his departure.
The Journal reported that Driscoll and his family vacated the official residence assigned to the army secretary at Joint Base Myer-Henderson Hall this summer, a move that could indicate he was preparing to leave the position.
The reported departure would come at a time of continuing uncertainty at the top echelons of the army.
Hegseth abruptly removed Army Chief of Staff Gen. Randy George in April, while Trump has not yet nominated a permanent successo....more below
...
The Islamic Revolution Guards Corps (IRGC) warns the enemies that any act of aggression against the Islamic Republic will not go unanswered.
In a statement on Thursday, the IRGC issued a “stern warning” to the enemies after US forces launched strikes against the southern Iranian port city of Bandar Abbas.
Following the US military attack on a point on the outskirts of Bandar Abbas Airport with aerial projectiles, the IRGC carried out new strikes targeting the US air base from which the attack originated in the wee hours of Thursday, it added.
“This response is a serious warning to the enemy that they should know the act of aggression will not go unanswered,” the IRGC emphasized.
The elite military force warned of a “more decisive” response if the enemy repeated any act of aggression.
It also said the responsibility for the consequences of any IRGC response lies with the aggressor.
The statement comes after the IRGC Navy on Thursday forced an American tanker to turn back. The tanker ...
