Saudi Arabia would like to invest in crude storage tanks on the southern Chinese island of Hainan, a local newspaper reported as the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud wound up his first official visit to the world's number two oil consumer.

The planned tanks would have capacity for 25 million to 30 million tonnes of crude oil, the Beijing Morning Post said, quoting unnamed sources close to the negotiations.
China and Saudi Arabia signed several agreements, including one for cooperation in petroleum, natural gas and minerals, but the nations gave no further details.
Saudi sources in the delegation said the memorandum was short and did not cover any specific projects.
But Saudi Arabia is already the largest supplier of oil imports to China, and the visit will likely strengthen ties -- with analysts eyeing refineries as a key area for investment.
At present there are relatively few plants in China which can process heavy Saudi crude, limiting the market for the oil.
Last year, Saudi Arabia signed a $3.5 billion deal with ExxonMobil Corp and Sinopec, China's top refiner, to expand a refinery in southern Fujian province.
The Saudis are also in talks with Sinopec about investing in a plant in the northern city of Qingdao.
Industry officials have said Beijing aims to boost Saudi crude imports under term deals next year to limit the impact of spot buying on volatile prices.
"China is one of the most important markets for Saudi oil and Saudi oil is one of the most important sources of energy for China," said Saudi Foreign Minister Prince Saud Al Faisal.