About: Saudi Aramco

The Saudi Arabian Oil Company, also known as Saudi Aramco, is an oil and natural gas giant that runs oilfields and natural gas fields across Saudi Arabia and abroad.

Fully owned by the Saudi Arabian government, it is the crown jewel of Saudi Arabia’s economy.

Assets – It controls the world’s second-largest proven crude oil reserves.

Production – Aramco pumps about 10 million barrels on average every day, that is, about 1/10thof the world’s oil output. 

Its running is overseen by the Ministry of Energy in Riyadh, under the charge of Abdulaziz bin Salman bin Abdulaziz Al Saud, son of King Salman.

Financial position (in 2018) –

Revenue – $388 billion

Profit – $111 billion;

Note: Aramco's profit was more than that of other energy giants like ExxonMobil, Shell, BP, Total, and Chevron combined, and twice the profit of Apple Inc.

Employment – 70,000 people globally. 

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