9 facts about oil giant Saudi Aramco
9 facts about oil giant Saudi Aramco
Saudi Arabia, the world's biggest oil exporter, is reportedly considering issuing shares in state-owned oil giant Saudi Aramco. We list some facts about the key to the kingdom's colossal power.
2 min read
08 Jan, 2016
Saudi Arabia could privatise Saudi Aramco, as low oil prices squeeze Riyadh's finances [Getty]
State-owned oil giant Aramco has transformed Saudi Arabia into a regional giant.
Now, it is on the verge of being privatised, according to one of the kingdom's most powerful princes.
Here are nine facts about the firm which analyst Ole Hansen of Saxo Bank said "undoubtedly would be one of the biggest in the world".
1. Headquartered on Saudi Arabia's Gulf Coast in Dhahran, where it drilled its first test well in 1935.
2. Sits on crude oil reserves of 261.1 billion barrels, 10 times more than US conglomerate ExxonMobil.
3. Produces roughly one in every eight barrels of the world's oil supply, with average daily production of 9.54 million barrels.
4. Employs 51,653 Saudis and 10,254 expatriates from 77 countries, including at subsidiaries and affiliates in China, Egypt, Japan, India, the Netherlands, South Korea, Singapore, the United Arab Emirates, Britain and the United States.
5. Khalid al-Falih is chairman of the board - and Saudi health minister.
6. Company has integrated chemicals production at six of its refineries, helping to diversify the kingdom's oil-dependent economy.
7. The Far East is the biggest market, receiving 62.3 percent of crude exports, 46.4 percent of refined products and 25.5 percent of natural gas liquids.
8. Operates 11 worldwide research centres and technology offices, including the latest one in Beijing.
9. Was granted 99 patents in the US in 2014.
Now, it is on the verge of being privatised, according to one of the kingdom's most powerful princes.
Here are nine facts about the firm which analyst Ole Hansen of Saxo Bank said "undoubtedly would be one of the biggest in the world".
1. Headquartered on Saudi Arabia's Gulf Coast in Dhahran, where it drilled its first test well in 1935.
2. Sits on crude oil reserves of 261.1 billion barrels, 10 times more than US conglomerate ExxonMobil.
3. Produces roughly one in every eight barrels of the world's oil supply, with average daily production of 9.54 million barrels.
4. Employs 51,653 Saudis and 10,254 expatriates from 77 countries, including at subsidiaries and affiliates in China, Egypt, Japan, India, the Netherlands, South Korea, Singapore, the United Arab Emirates, Britain and the United States.
5. Khalid al-Falih is chairman of the board - and Saudi health minister.
6. Company has integrated chemicals production at six of its refineries, helping to diversify the kingdom's oil-dependent economy.
7. The Far East is the biggest market, receiving 62.3 percent of crude exports, 46.4 percent of refined products and 25.5 percent of natural gas liquids.
8. Operates 11 worldwide research centres and technology offices, including the latest one in Beijing.
9. Was granted 99 patents in the US in 2014.
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