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Business
Saudi Aramco is the world's largest state-owned oil company.
Overview
Saudi Aramco is the state-owned oil company of the Kingdom of Saudi Arabia, and the world's largest producer of oil and chemicals.
Over the past 80 years, the company has become a world leader in hydrocarbons exploration, production, refining, distribution and marketing.
In 1988, the company was incorporated by a royal decree, establishing a new company to take over the responsibilities of an oil concession initially signed in 1933 between the Saudi government and Standard Oil Company of California (Socal).
In 1935, the company had drilled the first test well at Dhahran into the Dammam Dome. A year later, Texas Co. (now Chevron Corporation) acquired a 50% interest in Socal's concession.
In 1948, Standard Oil of New Jersey and Socony-Vacuum (both now ExxonMobil) joined Socal and Texaco (now Chevron Corporation) as owners of Aramco. Subsequently, the Saudi government took a full control of the company, thereby making it the world's largest state-owned oil company.
Saudi Aramco owns the world's largest oil and gas infrastructure, and now produces around 10.5 million barrels per day (bpd).
Aramco consistently produces five grades of Arabian crude oil: Arabian Super Light, Arabian Extra Light, Arabian Light, Arabian Medium and Arabian Heavy
Aramco’s principal fields are located in close proximity to each other within the Central and Eastern Provinces of the Kingdom. Its portfolio includes the world’s largest discovered conventional onshore oil field (Ghawar) and largest discovered conventional offshore oil field (Safaniyah).
In 2020, Aramco successfully completed the acquisition of a 70% stake in SABIC. The acquisition is the largest transaction in Aramco’s history.
Basic Information
| City: | Dhahran |
| Country | Saudi Arabia |
| Ownership Type: | Joint Stock |
| Establishment Date: | 1988 |
| Commercial Register: | 2052101150 |
| Website: | www.saudiaramco.com |
| investor.relations@aramco.com | |
| Phone | +966 13 872 0115 |
| Fax | +966 13 873 8190 |
| Address | Bldg no. 3302 – Northern Complex 3 – Dahran 31311 – KSA |
| PO Box | 5000 |
Argaam Classification
Financials Highlights (M )
Company Size
| Chart | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | ||
| No. of Employees | 70,496 | 68,493 | - | - | - | - | - | ||
| No. of Branches | - | - | - | - | - | - | - |
Trading Data
| Stock Market : | TASI |
| Fiscal Year End : | December |
| Free Float (M) : | 14,065.06 |
| Free Float % : | 5.81 |
| Weight in Index % : | 20.23 |
| 3M Average Volume : | 6,375,024 |
| 3M Average Transactions : | 11,411 |
| Change(12M) % : | (15.54) |
Major Shareholders
| Name | Number of Shares (M) | Holding |
|---|---|---|
| Kingdom of Saudi Arabia | 218,259.80 | 90.19 % |
Subsidiaries & Associates
| Company | Country | Percentage |
|---|---|---|
| Motiva | USA | 100.00 % |
| SADCO | Saudi Arabia | 100.00 % |
| SAUTC | Saudi Arabia | 100.00 % |
| CHEMCO | Saudi Arabia | 100.00 % |
| SACCL | United Kingdom | 100.00 % |
| SAPCO | Saudi Arabia | 100.00 % |
| SAT | Saudi Arabia | 100.00 % |
| WGIC | Saudi Arabia | 100.00 % |
| Bolanter | Netherlands | 100.00 % |
| SAIMCO | Saudi Arabia | 100.00 % |
| Vela International Marine Limited | Liberia Rep. | 100.00 % |
| Saudi Aramco Retail | Saudi Arabia | 100.00 % |
| SAJREF | Saudi Arabia | 100.00 % |
| Saudi Aramco Asia | Saudi Arabia | 100.00 % |
| Excellent Performance Chemicals | Saudi Arabia | 100.00 % |
| Wa'ed | Saudi Arabia | 100.00 % |
| SAEV | Saudi Arabia | 100.00 % |
| AGOC | Saudi Arabia | 100.00 % |
| ASC | Norway | 100.00 % |
| AOC | Netherlands | 100.00 % |
| Aramco Trading | Saudi Arabia | 100.00 % |
| SABIC | Saudi Arabia | 70.00 % |
| LUBEREF | Saudi Arabia | 70.00 % |
| Satorp | Saudi Arabia | 62.50 % |
| Yasref | Saudi Arabia | 62.50 % |
| Aramco Gas Supply | Saudi Arabia | 51.00 % |
| Aramco Crude Oil Supply | Saudi Arabia | 51.00 % |
| Novell | Saudi Arabia | 50.00 % |
| SAMREF | Saudi Arabia | 50.00 % |
| Marafiq | Saudi Arabia | 42.20 % |
| Petro Rabigh | Saudi Arabia | 37.50 % |
Investments
| Company | Percentage |
|---|---|
| Idemitsu | 7.80 % |
| Dehan | 8.90 % |
| TAQA | 4.60 % |
| SUMED | 15.00 % |
| SAUDI ELECTRICITY | 6.92 % |
Milestones
15-05-2022
The company's capital was increased to SAR 75 billion from SAR 60 billion by capitalizing SAR 15 billion from retained earnings.
09-2020
Completed the world’s first shipment of high-grade blue ammonia in partnership with Japan's Institute of Energy Economics (IEEJ) and SABIC.
2020
The company discovered seven new fields, of which four are unconventional, and one is an unconventional reservoir.
2019
01-01-2018
2018
Aramco commences commercial production of unconventional resources in the north of the Kingdom.
2017
Fully acquired Port Arthur Refinery, America's largest oil refinery.
2016
YASREF Refinery started commercial operations with a refining capacity of 400,000 barrels per day (bpd).
2014
SATORP Refinery started commercial operations with a refining capacity of 400,000 barrels per day (bpd).
2011
Formed Sadara joint venture.
2009
Petro Rabigh plant, the company’s first petrochemical plant, started operations.
2003
Launched a gas plant in Haradh with a capacity of 16 billion cubic feet.
2001
Hawiyah gas plant started operations with a capacity of 14 billion cubic feet.
1998
Shaybah field, located in the Rub' Al-Khali, started operations.
1996
Acquired 50 percent stake in Greek-based refiner Motor Oil (Hellas) Corinth Refineries S.A., and its marketing affiliate.
1994
Acquired 40 percent stake in Petron Corporation, the largest crude oil refiner and marketer in the Philippines.
1993
The company acquired the assets and operations of Saudi Arabian Marketing and Refining Co. (SAMAREC).
1991
Acquired 35 percent stake in SsangYong Oil Refining Company (renamed S-Oil).
1989
Established Star Enterprises as a joint venture with Texaco in the United States (renamed Motiva later).
13-11-1988
Saudi Arabian Oil Co. (Saudi Aramco) was officially established by virtue of a Royal Decree and was rebranded.
1984
His Excellency Ali I. Al-Naimi became the first Saudi president of the company
1980
The Saudi government fully acquired the company and officially established Saudi Arabian Oil Company (Saudi Aramco).
1974
The Saudi government increased its stake in the company to 60 percent.
1973
The Saudi government purchased a 25 percent stake in the company.
1951
The Safaniyah field was discovered as the world’s largest offshore oil field.
1950
The 1212-kilometer Tapline was completed to link eastern Saudi Arabia to the Mediterranean Sea.
1940
Abqaiq field was discovered.
1938
Commercial quantities of oil were produced at Dammam Well No. 7.
1935
The first test well was drilled into the Dammam Dome.
1933
Saudi Arabia signed a concession agreement with Standard Oil Company of California (SOCAL). California Arabian Standard Oil Company (CASOC), a subsidiary company, was established to manage the agreement.
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