Saudi Aramco Suspends $10 Billion China Oil Refinery Venture

[Kai Liu]

This car is a shit box even on China. GM is a shit car company that is losing market shares domestically but is like a superstar in China.

Huge electric car revolution is coming in China. GM Evo price will be between 4000-6000 dollars ..

GM-backed $4,000 mini electric car has already received 50,000 orders
Fred Lambert

- Aug. 20th 2020 11:37 am ET


@FredericLambert

101 Comments

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This car is by SAIC-GM-WULING. The majority shareholder is SAIC. 120-180 km in range, sold from 28,888 to 38,888 cny, or ~4,000 usd - 5,600 usd...Not a bad price. Actually it is currently the world's cheapest road legal lithium ion battery EV which can be driven on the expressway (with a speed of 100+kph)

 

[ZeEa5KPul]

as the company slashes spending to cope with low oil prices

That's alright. China doesn't hold it against Saudi Arabia that it's now much poorer.

 

[OIO]

This car is by SAIC-GM-WULING. The majority shareholder is SAIC. 120-180 km in range, sold from 28,888 to 38,888 cny, or ~4,000 usd - 5,600 usd...Not a bad price. Actually it is currently the world's cheapest road legal lithium ion battery EV which can be driven on the expressway (with a speed of 100+kph)

It's a good car if you only drive it to buy vegetables everyday.

 

[Kai Liu]

It's a good car if you only drive it to buy vegetables everyday.

Yes, it is a good car for housewives to buy groceries. And it will also do the job for driving to work within short distances. I think majority of buyers for this car may already have a gasoline car, and use it as a second car.

Commercial, sort of like the K-car:

 

[Pandora]

You cant blame them considering China slammed the door on their face by signing 400 billion dollars investment agreement with Iran. I would expect they would scale back their investment in CPEC as well including Oil Refinery project in Gawadar. China effectively choose a side by siding with Iran with such massive investment promise.

 

[CAPRICORN-88]

Out of the USD400 billion deal signed between Iran and China, USD280 billion is allocated for Oil and Gas Project.
Iran is offering oil and gas to China at a great discount.
It is a great deal.
No need to bother about sea route blockage by USA and its perceived ally.
Aramco project is strictly for distillation of Saudi Oil exported to China.

 

[zhxy]

Out of the USD400 billion deal signed between Iran and China, USD280 billion is allocated for Oil and Gas Project.
Iran is offering oil and gas to China at a great discount.
It is a great deal.
No need to bother about sea route blockage by USA and its perceived ally.
Aramco project is strictly for distillation of Saudi Oil exported to China.

400 billion dollars is too big. China can use it to invest in renewable energy or asteroid mining program

 

[OIO]

You cant blame them considering China slammed the door on their face by signing 400 billion dollars investment agreement with Iran. I would expect they would scale back their investment in CPEC as well including Oil Refinery project in Gawadar. China effectively choose a side by siding with Iran with such massive investment promise.

China's not intentionally taking side and not going to blame KSA.

 

[casual]

it's just a business decision. don't get too political over it.

 

[Path-Finder]

This is clearly annoyance of the saudi. well They have a new partner in india now and we are not going to linger with the yanks anymore who are pulling the strings.

 

[Paul2]

You cant blame them considering China slammed the door on their face by signing 400 billion dollars investment agreement with Iran. I would expect they would scale back their investment in CPEC as well including Oil Refinery project in Gawadar. China effectively choose a side by siding with Iran with such massive investment promise.

Yep, China is one of the biggest buyers of their oil. I believe Beijing believed that they held Sauds by the balls when they made a move on Iran, and that Sauds will clench their teeth, and sit still.

 

[IceCold]

Its business after all. No need to get sentimental about it. China chose Iran as it makes sense for country close by and arch rival of the US versus a country that is far from China and a staunch US supporter. I also agree with a gentleman above that next will be pulling investment from Pakistan.

 

[Enigma SIG]

This is clearly annoyance of the saudi. well They have a new partner in india now and we are not going to linger with the yanks anymore who are pulling the strings.

The US is pulling the strings of India as well. No matter the Saudis run they'll find the US holding them hostage.

 

[Pandora]

Yep, China is one of the biggest buyers of their oil. I believe Beijing believed that they held Sauds by the balls when they made a move on Iran, and that Sauds will clench their teeth, and sit still.

Well to be honest they are sitting still even now. It is not as if Saudis can retaliate especially considering the state of their economy. Retaliating would mean loosing all those precious oil money. In current situation countries are desperate to sell oil so china can always switch suppliers to teach them a lesson. Saudis need to invest in other countries not bcz they have lots of money but bcz they have no other choice. They have got the wiff of world without oil economy during COVID crisis so they will beg other countries to let them invest. If they had even a little bit of common sense they would invest billions in EV sector of china. In future no country will be able to compete against Chinese EV industry. All these TESLAS will only serve rich customers but real market will stay with china.

 

[Imran Khan]

10bn $ is peanut for china