Saudi Aramco:A closer look to world’s largest oil facility

Saudi Aramco is one of the largest oil and gas companies in the world. The company is owned and controlled by the Government of Saudi Arabia.


It is a prominent company that accounts for the world’s second-largest proven reserves of crude oil. It is also one of the world’s leading profitable companies.


Saudi Aramco is based in Dhahran, between the two cities of Dammam and Al-Khobar, in the eastern province of Saudi Arabia, on the Arabian Gulf coast.Saudi Aramco JUBAIL

Company Operated in the largest offshore fields

It operates Ghawar Field which is the largest onshore oil field and Safaniya fields, the largest offshore field.

Number of Employees in Saudi Aramco

The company employs more than 65000 both skilled and semi skilled people ranges from engineer to administrative clerk drawing handsome salaries.

World’s leading profitable company

Aramco is the most profitable oil and gas company in the country. A lot of big corporate giants like Apple and other big oil companies have passed away. Aramco plans to purchase a stake in the Reliance industry’s refinery and petrochemical company.

Who Controls the Aramco Company?

The company is owned and operated by Saudi Arabia’s government to date. The Ministry of Energy is responsible for the operation and functioning of the companies. The chairman and head of the Ministry of Energy is Abdulaziz bin Salman bin Abdulaziz Al Saud, a son of King Salman who oversees the company’s operations and takes all of the company’s major decisions.

Projected sales of 270 billion barrels

Saudi Aramco is expected to sell 270 billion barrels of reserve. If we compare the company in the other sector apart from its own sector, as compared to another big tech company like Apple Inc or Google, the company is also doing wonders.

Importance of Aramco Company To Saudi Economy

So the question as to why the company is important is because of the fact that its huge streams of operation has proved to be major revenue generation for the economy . It has played a major role in creating wealth and improving or increasing the economic status of the economy as a whole.

Second Largest crude oil reserves

The company accounts for the second-largest proven crude oil reserves in the world.  The past few years, the Saudi Aramco company has seen a tremendous hike the revenue has pumped up and the sale has risen to million barrels a day. This has made the company the largest largest oil producing companies among others in the same category in the world. 


Revenue Projections of the Saudi Aramco Company

From the revenue projections of the past years it can be observed that in the year 2018 the revenue generated is of $388 billion (€352 billion). The company is clearly earning a billion dollars a day which is quite a lot of revenue and this practice is continuing from years. Comparing the company’s revenue with that of other competitors, the company’s net revenue of $111 billion was more than that of its competitors, such as Exxon Mobil, Shell, BP, Total and Chevron combined.

When Will the IPO of the Aramco Company go live?

This is another question whose answer people area waiting that when will the IPO of the Aramco Company go live. This is the most awaited IPO to go live. In 2018 also this IPO was about to launch but it got delayed due to some reasons, so that attempt failed back then in 2018.  No new date was given back then by the company bout the launch of the IPO. The company was waiting for the the right time that is the most favorable market conditions to prevail. It was all due to gain more profits out of the IPO. Many people are still skeptical about the launch of the IPO.

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Major Highlights Of the Company during the Anticipated IPO launch

There is a lot of market information available in the public domain before the expected launch of the IPO. The new president was appointed by the company. The important news that followed this news was that the company’s processing facility and oil field had been attacked by drones.

Due to this series of events, the oil prices of the companies have been brought down. Global slowdown has been seen as having a declining demand for oil.

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Future Prospects of the Aramco Company

This one of the largest company has helped the government build up huge reserves of money thereby uplifting the economic status of the country as a whole. Its future growth prospects are very bright and its is anticipated that for the coming years also it will lead the oil industry all around the world. The government which operates the firm is thinking of channelizing the funds to other productive uses like putting the reserves of revenues that is reaped from the company in infrastructure, tourism and other purposes making the company more developed.

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Saudi vision 2030 

The government which operates the firm thought of channelizing the funds to other productive uses like putting the reserves of revenues that is reaped from the company in infrastructure, tourism and other purposes making the company more developed.

Due to this Saudi vision 2030 embarked initiated which was initially started in 2016  by Crown Prince Mohammed bin Salman. The whole project was started with the aim of reducing the dependence of gulf countries on oil reserves only. This project requires huge investment. This whole projected demanded sale of stake in Aramco Company.

Sale of Stake in Aramco by Government

Saudi Arabian government is planning to sell about two to five percent of its stake out of Saudi Aramco. The initial public offer was expected to be supported by various wealth funds such as Abhu Dhabi Investment Authority, Singapore GIC and others. Chinese and Russian investors are also interested in investing. The IPO has been delayed this week till the end of the year or early next year which is not a good news for the financial institutions.

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Delay in Aramco Company IPO

There are different reasons for the postponement. Some sources are of the view that there is lack of transparency, accountability and the interference of Saudi Arabia government.

There are also concerns about its valuation. IPO timing depends on market conditions. Saudi Arabia government delayed planned IPO until after earnings update of third quarter results which would strengthen the confidence of investors. Some sources cite that it is delayed due to the last month attacks on its oil facilities. Different environmentalists are pressing Bank of America, Citigroup and Goldman Sachs not to participate in the issue.