Ensuring the continued security of China's energy needs remains our highest priority - not only for the next five years, but for the next 50 years, Saudi Aramco CEO Amin Nasser noted.

Saudi Arabia, the world's largest oil exporter, maintained its position as China's top supplier in the first two months of this year, with volumes increasing 2.1% to 1.86 million barrels per day, according to China's customs service, Reuters reported.

The kingdom has overtaken Russia and maintained its ranking as the top oil supplier to China in 2020 despite unprecedented production cuts as part of a pact between the Organization of Petroleum Exporting Countries and its allies to balance global markets following a drop in demand during the COVID-19 pandemic.

Ensuring the continued security of China's energy needs remains our highest priority - not only for the next five years, but for the next 50 years and beyond, Nasser said.

Nasser said demand in China is very close to pre-pandemic levels. According to him, not only is Aramco a major supplier of energy for China's needs, it is well positioned to help China achieve its second 100-year energy transition goal.

Chinese President Xi Jinping announced in September that China would peak its carbon emissions by 2030 and achieve carbon neutrality by 2060, which is expected to lead to a tectonic shift in its energy and manufacturing sectors.

The state-owned oil giant also expects opportunities for further investment in refining and refining projects to meet China's needs for heavy transport and chemicals, as well as lubricants and non-metallic materials, Nasser said.

He added that Aramco is working with Chinese universities and companies on cleaner fuel systems and engine technologies to convert crude oil into chemicals and reduce greenhouse gas emissions from existing energy sources.

Chinese experts predict that oil demand in China will be capped at 730 million tons by about 2025, in line with Xi Jinping's climate pledge.