Saudi Aramco

This product was added on the quality assurance side of the portal business arising from the substantive and / or formal defects. You can help by you are removing the deficiencies mentioned there or you engaged with any of the discussion.

Saudi Aramco ( 1944-1988 Arabian - American Oil Company, ARAMCO, abbreviated Arabic أرامكو السعودية, al- sa ʿ ūdiyya Aramco ) is currently (2007) the largest oil producing company in the world with headquarters in Dhahran, Saudi Arabia.

History

ARAMCO was founded in 1944 and was, until the mid-1970s in possession of four U.S. oil companies. Between 1972 and 1980 ARAMCO was nationalized by the Saudi government. In 1988 the company was renamed Saudi Aramco. In 2000, Saudi Aramco has been declared by the journal Petroleum Intelligence Weekly for the eleventh time the largest oil producing company in the world.

Indicators

Saudi Aramco promotes annually 525 million tons of oil (as of 2006) and thus about four times as much as rival ExxonMobil. The oil reserves of Saudi Aramco and Saudi Arabia amount to a further 35-36 billion tons.

With an estimated 781 billion U.S. dollar value of the company Saudi Aramco was loud McKinsey in December 2005, the most valuable company in the world.

With the Ghawar oil field belongs to her the largest oil field in the world. It is believed according to the Peak Oil theory that this oil field has reached its production peak and begun to produce about eight percent less crude oil annually. Abdallah Jum ʿ a, CEO of Aramco, according to (2008), however, the fears of the global production peak are drastically exaggerated.

In early 2008, Aramco known to part of one quarter of the shares in Rabigh Refining and PetroRabigh, and to let this go as a subsidiary of the stock exchange.

Shortly after the subscription period began for shares of Rabigh Refining and PetroRabigh, a joint venture with Sumitomo Chemicals of Japan Aramco.

Saudi Aramco, with 9.1 million barrels per day in 2011 was the largest oil-producing Group Worldwide.