Saudi Aramco crude oil supplies to China could double

Saudi Aramco, China's largest crude oil supplier, aims to boost oil supplies to the world's second-largest economy, according to president and CEO Khalid Al-Falih.

Saudi Arabia's state-owned oil firm has an over 10% market share in China and it expects its Chinese operations to grow with Chinese demand.

The firm's goal is to boost supplies while making products more affordable and energy efficient, Al-Falih told Caixin Online.

Al-Falih told Caixin: "We see our energy supply potentially doubling at one point of time as China's energy demand grows.

"We look at every province in China as a province that we're responsible one way or another to provide affordable and environmentally acceptable energy tool

"I'm hoping that in future, every province in China will see Aramco names."

"Saudi Aramco is willing to come in to partner with Chinese companies under proper regulations," the chief executive said, adding that he hopes that China will further open up its market to foreign investors, including to Saudi Aramco, to form what he referred to as a 'win-win-win' partnership.

"Win for us of course, win for the Chinese companies, and most importantly, the most important win is the win for the Chinese people, the consumers."

Saudi Aramco supplied about 13% of China's crude-oil demand in 2014, according to government data.

It has invested in two refinery projects in the eastern Fujian province, in partnership with state-owned China Petrochemical Corp, also known as Sinopec.