According to media reports, Saudi Aramco said it would invest further in China Despite a drop in second-quarter profits, Saudi Aramco (hereinafter referred to as Saudi Aramco) said in reiterating its massive capital spending plan that it plans to further its investment activities in China.。As the state-owned group seeks to expand its domestic oil and gas production and work to diversify its overseas downstream activities, the company is implementing the largest capital spending program in its history, with capital spending expected to reach between $45 billion and $55 billion this year.。