CMES owned VLCC New Constant recently set sail from the UAE port of Fujairah to China, with the ship carrying 1m barrels of crude for China National Petroleum Corporation (CNPC).
CMES said the VLCC crude transportation has continued to pave the way for the China-Arab energy cooperation as part of the One Belt One Road initiative.
In February this year, CNPC’s chairman Wang Yilin and Abu Dhabi National Oil Company (ADNOC) ceo Sultan Ahmed Al Jaber met and sealed a deal giving CNPC an 8% stake in a 40-year onshore oil concession.
The onshore oil concession is operated by Abu Dhabi Company for Onshore Petroleum Operations (ADCO), which has an onshore oil production of approximately 80m tonnes.
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