41 Facts About Saudi Aramco

Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian public petroleum and natural gas company based in Dhahran.

Saudi Aramco has both the world's second-largest proven crude oil reserves, at more than 270 billion barrels, and largest daily oil production of all oil-producing companies.

On 11 May 2022, Saudi Aramco became the largest company in the world by market cap, surpassing Apple Inc.

Saudi Aramco operates the world's largest single hydrocarbon network, the Master Gas System.

Saudi Aramco operates the Ghawar Field, the world's largest onshore oil field, and the Safaniya Field, the world's largest offshore oil field.

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The plan counted on using the associated gas, but by 1985, Saudi Aramco was able to include a billion standard cubic foot per day of non-associated gas.

In 1994, Saudi Aramco discovered more non-associated gas in the deeper Jawf sandstone formation, and built plants in Hawiyah and Haradh to process it.

In Sept 1990, after the start of the Gulf War, Saudi Aramco was expected to replace much of the oil production removed from the global market due to the embargo of Iraq and occupied Kuwait.

In May 2001, Saudi Aramco Arabia announced the Gas Initiative, which proposed forming three joint ventures with eight IOCs for gas exploration on pure upstream acreage.

In 2005, Saudi Aramco launched a five-year plan to spend US$50 billion to increase their daily capacity to 12.

In 2005, Saudi Aramco was the world's largest company with an estimated market value of US$781 billion.

In 2011, Saudi Aramco started production from the Karan Gas Field, with an output of more than 400 million scf per day.

Wall Street Journal reported in September 2018, Saudi Aramco was considering a US$1 billion venture-capital fund to invest in international technology firms.

In June 2019, a report by Financial Times claimed that Saudi Aramco had been bearing the ministry-related expenses; boosting the finance ministry budget allocation.

In September 2019, Saudi Arabia appointed Yasir Al-Rumayyan as the Chairman of Aramco.

Saudi Aramco computers were attacked by a virus on 15 August 2012.

The following day Saudi Aramco announced that none of the infected computers were part of the network directly tied to oil production, and that the company would soon resume full operations.

Saudi Aramco announced on Sunday 3 November 2019 its plan to list 1.

On 9 November 2019, Saudi Aramco released a 600-page prospectus giving details of the IPO.

Saudi Aramco has reported a fall in the net profit of its third-quarter for November 2020, due to increased crude prices and a drop in its demand following the COVID-19 pandemic.

On 10 March 2020 Saudi Aramco announced a global partnership with Formula One landing a multi year deal.

On 31 July 2020, Saudi Aramco lost its title as the world's largest listed company by market capitalization to Apple.

On 21 March 2021, Saudi Aramco signed an agreement to secure China's energy supplies for the next 50 years, and to develop new technologies to combat climate change.

In July 2021, Saudi Aramco appointed former HSBC Holdings Plc Chief Executive Officer Stuart Gulliver to the company's board of directors.

In October 2021, Saudi Aramco announced plans to achieve net-zero carbon emissions from its wholly-owned operations by 2050.

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In 2021, The Guardian reported that Saudi Aramco was not trying to diversify at the same rate as other oil companies, such as Shell and BP.

Rather, Saudi Aramco announced in 2021 that the company intended to increase crude capacity from 12m barrels a day to 13m barrels by 2027.

Saudi Aramco is headquartered in Dhahran, but its operations span the globe and include exploration, production, refining, chemicals, distribution and marketing.

Saudi Aramco has been exploring for oil and gas reservoirs since 1982.

Originally, Saudi Aramco used Cray Supercomputers in its EXPEC Advanced Research Center to assist in processing the colossal quantity of data obtained during exploration and in 2001, ECC decided to use Linux clusters as a replacement for the decommissioned Cray systems.

Since then, Saudi Aramco has taken on the responsibility of refining oil and distributing it in the country.

In 2008, Saudi Aramco sold its entire stake to the Ashmore Group, a London-listed investment group.

Saudi Aramco has employed several tankers to ship crude oil, refined oil, and natural gas to various countries.

Saudi Aramco expanded its presence worldwide to include the three major global energy markets of Asia, Europe, and North America.

Saudi Aramco is planning to be a major producer of liquefied natural gas in the world.

Saudi Aramco is looking globally for potential joint ventures and partnerships to achieve its goal regarding LNG market.

In 1970, Saudi Aramco started hiring its first high school graduates, and in 1979 started offering college scholarships.

On 6 November 2019, Saudi Aramco joined the World Bank's initiative to reduce gas flaring to zero by 2030.

Saudi Aramco did not formally contact her until approximately 14 hours after his death, refused to release his body, and allegedly erased information from his mobile phone.

In March 2020, Saudi Aramco came under fire after photos of a migrant worker dressed as a large hand-sanitizer dispenser went viral on social media.

Saudi Aramco Arabia abstained from the United Nations vote adopting the Universal Declaration of Human Rights, saying it contradicted sharia law.