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China dominates-I: Saudi Arabia pushed to trade in Yuan-dominated crude?
Dec 18:
China is increasingly pushing its aggressive policies to the oil sector
8Its latest campaign is to push its oil trading to a Yuan-dominated currency format
8Reports are emerging that China has also offered an outright purchase of five percent stakes in Saudi Aramco in return for Yuan-dominated sales by Saudi Arabia.
8The deal provides It provides oil-thirsty China with a stake in the world’s largest and most integrated oil company, and it helps Riyadh bypass the stringent regulations for listing on major capital markets, which Aramco is finding increasingly difficult to meet.
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8Its latest campaign is to push its oil trading to a Yuan-dominated currency format
8Reports are emerging that China has also offered an outright purchase of five percent stakes in Saudi Aramco in return for Yuan-dominated sales by Saudi Arabia.
8The deal provides It provides oil-thirsty China with a stake in the world’s largest and most integrated oil company, and it helps Riyadh bypass the stringent regulations for listing on major capital markets, which Aramco is finding increasingly difficult to meet.
Click on Reports for more
