The Saudi Arabian Oil Company (Saudi Aramco) is engaged in the exploration, production, transportation and sale of crude oil and natural gas (upstream) and the manufacture, transportation and sale of petroleum products (downstream).
Saudi Aramco is headquartered in Dhahran, Kingdom of Saudi Arabia, which the company refers to as the “Kingdom” in its communications.
Saudi Aramco was formed on 31 November 1988 by Royal Decree No. M/8, which approved Saudi Aramco's original articles. However, the company's history dates back to 29 May 1933 when the Kingdom granted a concession to the company’s predecessor the right to, among other things, explore the Kingdom for hydrocarbons.
For the financial year end 31 December 2019, Saudi Aramco generated revenue (and other income) of SAR 1,236.8 billion, equivalent to USD 329.8 billion. In the same year, the company made a profit after tax of SAR 330.7 billion, equivalent to USD 88.2 billion.
On 11 December 2019, Saudi Aramco completed its Initial Public Offering (IPO) on the Saudi Stock Exchange (Tadawul). As part of the IPO, the Saudi Government sold an aggregate of 3.45 billion ordinary shares, or 1.73% of Saudi Aramco’s share capital.
Saudi Aramco is listed on the Saudi Stock Exchange (TADAWUL) under the code 2222.
Saudi Aramco operates in the oil and gas industry within the Kingdom of Saudi Arabia and has interests in refining, petrochemical, distribution, marketing and storage facilities outside of Saudi Arabia. The company splits its business into the following two broad segments, as well as corporate services:
Upstream - Upstream activities include crude oil, natural gas and natural gas liquids exploration, field development and production. For the year ending 31 December 2019, the upstream segment accounted for 60.13% (SAR 743,696 million) of total revenue.
Downstream - Downstream activities include the refining, logistics, power generation, and the marketing of crude oil, petroleum and petrochemical products and related services to international and domestic customers. For the year ending 31 December 2019, the downstream segment accounted for 39.76% (SAR 491,742 million) of total revenue.
Corporate - Corporate activities include primarily supporting services including Human Resources, Finance and IT not allocated to Upstream and Downstream. For the year ending 31 December 2019, the corporate segment accounted for 0.11% (SAR 1,347 million) of total revenue.
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