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11 Interesting Facts About Saudi Aramco

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Apart from the fact that Saudi Aramco is the world’s biggest oil firm, what other interesting facts do you know about the oil giant? No doubts, Aramco as it is popularly called is one of the most notable companies to reckon with as far as the oil industry is concerned.  That is why we have listed 11 startling facts about oil giant Saudi Aramco below.

  1. The company is the world’s biggest oil producer and has an estimated 270 billion barrels in reserves and the largest daily oil production.

 

  1. Aramco’s full-year profits for 2019 at $88 billion are several times larger than the annual $16.5 billion profits of oil and gas rival Royal Dutch Shell (RDS.A), the largest publicly-traded oil company after Aramco.

 

  1. Saudi Aramco is primarily a state-owned company, officially known as Saudi Arabian Oil Company with its headquartered in Dhahran, Saudi Arabia.

 

  1. Saudi Aramco ships more oil around the world than any other single company or country.

 

  1. Aramco is the global leader in daily crude oil production. The company produced an average of 13.2 million barrels per day in 2019, more than five times Exxon Mobil’s daily production average.

 

  1. The company is by far the world’s most profitable company, eclipsing even tech giants such as Apple Inc. (AAPL) and Alphabet Inc. (GOOGL).

 

  1. The government of Saudi Arabia derives a significant portion of its wealth from the company. Aramco as at 2017, paid a hefty tax rate of 85% to the Saudi Arabian government.
  2. Aramco was formed as the product of a Concession Agreement between the Saudi Arabian government and the Standard Oil Company of California (SOCAL) in 1933.

 

  1. Aramco’s financials were not made available to the public since the company was nationalized in the late ’70s until 2019.  The oil company made its financial information available in a prospectus tied to a $10 billion bond sale planned for 2019.

 

  1. Aramco is the World’s Most Valuable Company. It reclaimed the spot from Apple in September 2020.

 

  • Aramco is currently led by Amin H. Nasser, its president and CEO. Yasir Al-Rumayyan is the Chairman of the company.
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