China, UAE look to boost oil, gas ties

BEIJING, Sept. 7 (UPI) -- China said it is ready to boost cooperation with the United Arab Emirates in the oil and gas sectors.

The Xinhua news agency reported Thursday that Chinese Premier Wen Jiabao told Shaykh Mohammed Bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates, that the countries could boost energy cooperation.

The comments, for which no direct quotes were provided, were made on the sidelines of a meeting of the World Economic Forum's Inaugural Annual Meeting of the New Champions in Dalian, China.

The United Arab Emirates holds the fifth-largest proven oil reserves in the Middle East and the fifth-largest proven natural gas reserves in the world, according to the U.S. Energy Information Administration, the Department of Energy’s data arm.

China needs energy to feed its rapidly growing economy.