Saudi Aramco

from Wikipedia, the free encyclopedia
Saudi Aramco

logo
legal form Corporation
ISIN SA14TG012N13
founding 1933
Seat Dhahran , Saudi ArabiaSaudi ArabiaSaudi Arabia 
management Amin H. Nasser (CEO)
Number of employees 65,266 (2015)
sales $ 356 billion (EUR 300 billion) (2018)
Branch Petroleum , natural gas
Website www.saudiaramco.com

Saudi Aramco (abbreviated Aramco , Arabic أرامكو السعودية, Aramco as-saʿūdiyya ) is currently (2019) the largest oil production company in the world with its headquarters in Dhahran, Saudi Arabia .

In 2018, according to the rating agency Moody’s, net profit amounted to 111.1 billion US dollars. According to Fitch Ratings , the company's gross profit in 2018 was $ 224 billion. The immense profit is due to the low operating costs. For example, Saudi Aramco only costs 7.5 dollars to produce one barrel of oil (159 liters), while Royal Dutch Shell has to spend 22.9 dollars to produce the same amount.

According to the Saudi Crown Prince Mohammed bin Salman , the company is said to be worth 2 trillion US dollars. More conservative estimates put it at $ 500 billion.

A 2019 study found that the fossil fuels produced by Saudi Aramco had emitted 56.29 billion tons of CO 2 equivalent since 1965. The researchers concluded that the company was responsible for the world's highest emissions with 4.38% of all emissions during this period.

Saudi Aramco designed and built the top university KAUST , founded in 2009 , which includes various research centers of the mineral oil group.

history

California-Arabian Standard Oil (from 1933)

Saudi Arabia's first successful well, Dammam No.7

The oil age in the region began in 1932, when oil wells in Bahrain were successful by the American company Standard Oil of California (Socal) and its expedition leader (and later chairman of the board of ARAMCO) Fred Davies . The British, who had dominated the Middle East up to that point, had no efforts whatsoever to conduct explorations in the area , as they had sufficient oil from their sources in Persia and Iraq and their geologists assumed that there was no oil in the Arabian Peninsula . After Davies suspected crude oil in Saudi Arabia due to the similar geological conditions and its ruler Ibn Saud urgently needed money because his main source of income had lost after the number of Muslim pilgrims had dropped by 80 percent as a result of the global economic crisis, Socal was granted the concession in 1933 for oil exploration. The contract stipulated that for the payment of a one-off sum of $ 250,000, an annual payment of $ 25,000 and a payment to the royal family of around one dollar per tonne of extracted oil, the Americans would be entitled to production rights for 60 years to an area of ​​almost one million Get square kilometers. For this purpose, Socal founded the California-Arabian Standard Oil Co. (CASOC). After extensive mapping and an aerial survey across the entire peninsula, the first drilling began in 1935 near Dammam . The work turned out to be difficult due to sandstorms, high temperatures and the virtually non-existent infrastructure in the extremely backward country. As the exploration was unsuccessful and Socal's financial reserves continued to decline, a cooperation with a partner had to be entered into, whereupon Texaco took over half of the shares in 1936. After the six existing wells in Dammam had still not gushed any oil, Socal's headquarters in San Francisco was on the verge of suspending all activities in Saudi Arabia in early 1938. Only a few weeks later on March 4th at the later famous drilling site “Dammam No. 7 “oil was found after all, is mainly due to the persistence of the chief geologist Max Steineke , who drove the deep drilling to more than 1400 meters. This well, which should deliver an average of 3,000 barrels of oil per day for the next 45 years, marks the beginning of Saudi Arabia's path to becoming the world's largest oil producer.

Arabian-American Oil Company (from 1944)

In 1944 the name was changed to Arabian-American Oil Company (ARAMCO).

From 1948 the company was owned by four US oil companies. For this purpose, Standard Oil of New Jersey (later Exxon ) took over 30% and Socony Vacuum (later Mobil Oil ) 10% of the shares. Both companies were the successors of the Standard Oil Company, which was broken up in 1911, and have been reunited as ExxonMobil since 1999 . The two original shareholders reduced their shares to 30% each.

Between 1972 and 1980 ARAMCO was nationalized by the Saudi Arabian government.

Saudi Aramco (from 1988)

In 1988 the company was renamed Saudi Aramco . In 2000, the Petroleum Intelligence Weekly magazine named Saudi Aramco the world's largest oil company for the eleventh time. In 2019, Saudi Aramco bought 70% of the shares in Saudi Basic Industries Corporation , the country's largest petrochemical producer. The transaction total was 69 billion US dollars.

Attacks on September 14, 2019

As part of the civil war in Yemen , two key Saudi Aramco facilities were targeted by drones on September 14, 2019 , namely the Abqaiq oil processing plant and the large Churais oil field . Abqaiq is considered one of the most important oil refineries in the world, processing seven million barrels of crude oil per day. Yemeni Houthi rebels claimed responsibility for the attacks. As a result, Aramco's oil production collapsed by half, according to estimates. US Secretary of State Mike Pompeo subsequently said there was no evidence that it was actually drones from Yemen that damaged the facilities, and instead accused Iran of being responsible for the attacks. As evidence, satellite images were published which, using the impact points and damage patterns of the precise hits, are intended to show that the missiles did not come from the direction of Yemen in the south-west, around 800 km away, but rather from the north-west.

Stock company from December 2019

After several postponements, the Saudi Arabian capital markets authority granted official approval for an IPO in November 2019 . The shares have been traded on the Tadawul Stock Exchange in Riyadh since December 11, 2019 . The issue price of one share was $ 8.53, which translates to 32.00 riyals. The IPO brought the company the equivalent of 23.1 billion euros. It is the largest IPO in history. 1.5% of the company's shares are traded on the stock exchange. The remaining company shares are retained by the Gulf state of Saudi Arabia. With a market value of 2 trillion euros, Saudi Aramco is currently the most valuable corporation in the world and the first company in the world to achieve this value.

Key figures

Saudi Aramco Headquarters in Dhahran

According to its own information (as of 2016), Saudi Aramco produces 10.2 million barrels of crude oil per day and has reserves of 261.1 billion barrels of crude oil. This makes Saudi Aramco the largest oil producing company in the world.

Saudi Aramco employs around 55,000 or 65,000 people worldwide.

With an estimated $ 2 trillion enterprise value, Saudi Aramco is the world's most valuable company, according to the Financial Times .

With the Ghawar oil field, she owns the largest oil field in the world. According to the peak oil theory, it was already assumed in 2006 that this oil field had reached its production maximum and had already started to produce around eight percent less crude oil annually. Abdallah Dschumʿa , CEO of Aramco, according to (2008), however, the fears about the global production maximum are drastically exaggerated.

Rabigh Refining and PetroRabigh

In 2008, Aramco sold a quarter of the shares in Rabigh Refining and PetroRabigh and went public as a subsidiary. Today Aramco and the Japanese company Sumitomo Chemicals each hold 37.5% of the shares, the remaining 25% are in free float .

Projects

The long-term goal is no longer to sell crude oil as a raw material for the manufacture of basic chemicals to the chemical industry, but to act as a producer of basic chemicals in the future. The necessary know-how from foreign companies is bought in through investments. In principle, the state-owned company Saudi Aramco with annual sales of US $ 365 billion (2012) would also be able to buy up these companies (and corporations) entirely on the stock exchange.

  • Since June 2013, Dow Chemical has also been participating in the world's largest butanol production facility there through its stake in Sadara in Jubail . The newly founded company SaBuCo produces 1-butanol and isobutanol .

literature

Web links

Individual evidence

  1. ↑ http://www.saudiaramco.com/en/home/about/governance/leadership-team/amin-h--nasser.html
  2. ↑ Archived copy ( memento of the original dated June 6, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.saudiaramco.com
  3. ↑ a b Employee of Saudi Aramco. (No longer available online.) Aramco.jobs, archived from the original on April 30, 2016 ; accessed on March 29, 2016 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.aramco.jobs
  4. ^ Richard Partington: Saudi oil company named world's most profitable business . In: The Guardian . April 1, 2019, ISSN  0261-3077 ( theguardian.com [accessed December 2, 2019]).
  5. ↑ World's largest oil company: $ 111.1 billion in profit for Saudi Aramco . In: Spiegel Online . April 1, 2019 ( spiegel.de [accessed April 1, 2019]).
  6. ^ Mark Fehr: IPO for a closed company. In: Frankfurter Allgemeine Zeitung. November 20, 2019, p. 27. Online version , accessed November 25, 2019.
  7. ↑ Marcus Theurer, Markus Frühauf: Planned IPO: How much is the oil giant Aramco really worth? In: Frankfurter Allgemeine Zeitung . April 27, 2017, ISSN  0174-4909 ( faz.net [accessed July 5, 2017]).
  8. ↑ Revealed: the 20 firms behind a third of all carbon emissions. The Guardian, accessed October 9, 2019 .
  9. ^ Saudi Aramco Research Center at KAUST . ( Memento of the original from July 15, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Saudi Aramco, December 16, 2016, @1@ 2Template: Webachiv / IABot / www.saudiaramco.com
  10. ↑ 50 Years of Saudi Arabian History - The Development of the Kingdom of Saudi Arabia from its founding in 1932 to the death of King Khaled in 1982
  11. ^ Prelude to Discovery
  12. ↑ beneath-saudi-sands
  13. ↑ Saudi Aramco Agrees to Buy 70% Stake in SABIC from Kingdom's Public Investment Fund | SUSTG.com - News, Analysis, and Features on all things Saudi Arabia. Retrieved July 6, 2019 (American English).
  14. ^ "Saudi Arabia oil facilities ablaze after drone strikes" BBC of September 14, 2019
  15. ↑ "Houthi rebels attack two Saudi Aramco locations - oil production halved" handelsblatt.com of September 14, 2019
  16. ↑ "Iran rejects US accusation over drone attacks on Aramco plants" aljazeera.com from September 15, 2019
  17. ↑ "What the satellite images reveal about the attackers" Die Welt, September 16, 2019
  18. ↑ Saudi oil giant enters the world of the stock market. In: orf.at . November 3, 2019, accessed November 3, 2019.
  19. ↑ Saudi Aramco now worth more than two trillion dollars In: Manager Magazin December 12, 2019, accessed December 13, 2019.
  20. ↑ a b Who we are www.saudiaramco.com, accessed on November 5, 2016 (English).
  21. ↑ Big Oil, Bigger Oil . In: Financial Times , February 4, 2010. 
  22. ↑ Texas Enterprise - What's the Value of Saudi Aramco? by Sheridan Titman . February 9, 2010. Retrieved June 29, 2014.
  23. ^ Christopher Helman: The World's Biggest Oil Companies . In: Forbes , July 9, 2010. 
  24. ↑ The World's Largest Oil Field is Dying ( Memento of August 18, 2006 in the Internet Archive )
  25. ↑ Is Saudi supply pushing its limit? ( Memento from May 28, 2009 in the Internet Archive )
  26. ↑ [1] Aramco chief says world's Oil reserves will last for more than a century, ogj.com, Oil and Gas Journal, detail page no longer available April 1, 2019.
  27. ^ Rising to the Challenge: Securing the Energy Future Jum'ah Abdallah S. World Energy Source ( Memento of April 4, 2013 in the Internet Archive )
  28. ^ Aramco Chief Debunks Peak Oil ( Memento from February 15, 2012 in the Internet Archive ) January 17, 2008.
  29. ↑ Financial Times Deutschland: Aramco subsidiary goes public ( Memento from July 31, 2012 in the web archive archive.today ) Details page no longer available April 1, 2019.
  30. ↑ Chemweek's Business Daily , July 25, 2011.
  31. ↑ Linde to build world's largest CO2 purification and liquefaction plant the-linde-group.com, Linde, August 22, 2013, accessed April 1, 2019.
  32. ^ Huge order for Uhde from Saudi Arabia thyssenkrupp.com, press release May 5, 2003, accessed April 1, 2019.
  33. ↑ Presentation of the SADARA project ( Memento of the original from April 3, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.kacstpetrochem.org
  34. ↑ Sadara Project 2014 .
  35. ↑ SaBuCo to build world's largest butanol plant: 330,000 tpd butanol, 11,000 tpd i-butanol . - SaBuCo ( Memento from May 2, 2014 in the Internet Archive )

Coordinates: 26 ° 18 ′ 36.7 ″  N , 50 ° 7 ′ 57.4 ″  E