+91 70111 97831
  • About us
    • Data Analyst Team
    • Magazines Sections
    • Editorial Team
  • Advertise with us!
  • Business review
  • Guest writers
    • Guest Contribution
  • Subscription
  • Career
  • Testimonials
  • Contact Us
Sunday, October 1, 2023
International Magazine
Business Connect Magazine
Upcoming Event
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Guest Posts
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Guest Posts
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
Business Connect Magazine
No Result
View All Result

Saudi Aramco Net Worth

admin by admin
October 8, 2022
in Blog, Networth
Saudi Aramco Net Worth
Share on FacebookShare on Twitter

Saudi Aramco Net Worth

Saudi Aramco, officially known as the Saudi Arabian Oil Business (formerly Arabian-American Oil Company), is a publicly traded Saudi Arabian oil and gas company with its headquarters in Dhahran. It ranked among the top companies in the world in terms of revenue by 2020.

With over 270 billion barrels (43 billion cubic metres) of known reserves, Saudi Aramco has the second-largest crude oil production per day among all oil-producing enterprises. Since 1965, no other firm has contributed more to the world’s carbon emissions than it has. Saudi Aramco surpassed Apple Inc. briefly to become the biggest (and most valuable) corporation in the world by market cap on May 11, 2022.

The Master Gas System, operated by Saudi Aramco, is the world’s biggest single hydrocarbon network. It handles about one hundred oil and gas fields in Saudi Arabia, including 288.4 trillion standard cubic feet (scf) of natural gas reserves, and its crude oil production was 3.4 billion barrels in 2013. Saudi Aramco manages the world’s largest onshore oil field, the Ghawar Field, and the world’s largest offshore oil field, the Safaniya Field.

In December 2019, the company’s shares started trading on the Tadawul stock exchange. The stock soared to 35.2 Saudi riyals, giving it a market value of around US$1.88 trillion, and it exceeded the US$2 trillion barrier on the second day of trade. Saudi Aramco was named the world’s fifth-largest public company in the 2020 Forbes Global 2000. In March 2021, Saudi Aramco announced that earnings in 2020 would be roughly 45% lower than in 2019, due to global lockdowns following the COVID-19 epidemic.

Net Worth and the CEO

Owned by the government of Saudi Arabia (98.5%), Saudi Aramco’s market value is $2.107 trillion as of October 2022. According to data from companiesmarketcap.com, Saudi Aramco is now the second most valuable company in the world by market cap. The market capitalization, often known as market cap, is a measure of a firm’s value that considers all the outstanding shares of a publicly listed company. The largest producer of oil in the world, Saudi Aramco, is led by Amin Hassan Nasser as president and chief executive officer. Up until September 2015, he served as the company’s acting president and chief executive.

As an engineer in the division responsible for oil production, Nasser started working for Saudi Aramco in 1982. He later worked in drilling and reservoir management. The Ras Tanura Producing Department hired him as manager in 1997. Later, he was promoted to manager of the Northern Area Production Engineering Department, together with the Safaniya Offshore and Onshore Producing Departments. In 2004, he was chosen to be Saudi Aramco’s Chief Petroleum Engineer, and in 2008, he was promoted to Senior Vice President of the Upstream division.

In May 2015, Mr. Nasser, the fourth Saudi citizen to lead Aramco, assumed the role in an interim capacity. In September 2015, he was given the title permanently. In September 2019, he oversaw the company’s response to drone and missile strikes on its installations.

Saudi Aramco Competitors

ExxonMobil

ExxonMobil is a multinational oil and gas corporation and energy provider. Its valuation is $ 422.3 billion.

RelatedPosts

INDO-GLOBAL ENTREPRENEURSHIP CONCLAVE-2023

INDO-GLOBAL ENTREPRENEURSHIP CONCLAVE-2023 & INTERNATIONAL BUSINESS AWARD

5 Life Lessons from TVF Aspirants | Sandeep Bhaiya

5 Life Lessons from TVF Aspirants | Sandeep Bhaiya

Satya Narayana Nadella Net Worth

Satya Narayana Nadella Net Worth

Mystery Of Titanic Ship Story

Mystery of Titanic Ship Story

India’s top 10 IAS coaching institute

India’s top 10 IAS coaching institute

Apple Net Worth

Apple Net Worth

Don’t let Your Excuses Kill Your Goals and Dreams, Tips to Overcome Them

Don’t let Your Excuses Kill Your Goals and Dreams, Tips to Overcome Them

Nathan Anderson Net Worth

Nathan Anderson Net Worth

Marathon Oil Company

Founded in 1987, Marathon Petroleum Corporation (MPC) is a petroleum products and renewable fuels company whose valuation is $66.3 billion.

Shell

US-based Royal Dutch Shell is an oil and petrochemical conglomerate which was founded in 1907.

BP

British Petroleum (BP) is a multinational oil and petrochemical corporation with operations in upstream, downstream, and renewables.

History of the Company

The founding of Saudi Aramco dates to 1933 when Saudi Arabia and the Standard Oil Company of California inked a concession agreement (SOCAL). The California Arabian Standard Oil Company (CASOC), a subsidiary business, was established to oversee the contract. Work started right away. Drilling started in 1935 after a search for oil in the Saudi desert. After years of work with little to show for it, SOCAL management asked its chief geologist, Max Steineke, for guidance in 1937. Steineke instructed them to continue drilling based on his years of field experience.

The start of commercial oil production from Dammam No. 7 — the aptly called “Prosperity Well” — in 1938 laid the groundwork for Saudi Arabia’s future prosperity and the success of Saudi Aramco.

Must Read:-

  • Top 10 Young Entrepreneurs in India 2022
  • Upcoming Indian Web Series for 2022-23
  • Top 10 Hospitals in India 2022
  • Top 10 richest player of the world 2021
  • Top 10 highest-paid Indian Athletes 2021
  • Top 10 highest paid CEO in the World
  • Top 10 richest person of India
  • Top 10 Highest Paid CEOs of India
  • List Of Most Followed Facebook Pages in 2022
  • The Success Story of Jeff Bezos
Previous Post

Liver cancer cases & deaths to increase by 55% by 2040, says study

Next Post

Samajwadi Party founder & former UP CM, Mulayam Singh Yadav dies at 82

Next Post
Samajwadi Party founder & former UP CM, Mulayam Singh Yadav dies at 82

Samajwadi Party founder & former UP CM, Mulayam Singh Yadav dies at 82

Meet Peter Thiel- A Prudent Entrepreneur who co-founded PayPal

Meet Peter Thiel- A Prudent Entrepreneur who co-founded PayPal

10 Secrets Of a Successful Peer-To-Peer Fundraising Campaign

10 Secrets Of a Successful Peer-To-Peer Fundraising Campaign

Air India net worth

Air India net worth

Musings of a Lazy Author

Musings of a Lazy Author

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

Freedom's Guardians: The Top 10 Freedom Fighters of India

Freedom’s Guardians: The Top 10 Freedom Fighters of India

Exploring  5 the Best Online Betting Games for Success

Exploring  5 the Best Online Betting Games for Success

Vedanta's Strategic Move: Demerger Plans to Create Six Listed Entities

Vedanta’s Strategic Move: Demerger Plans to Create Six Listed Entities

Mahatma Gandhi's Birth Anniversary: A Day of Reflection and Inspiration

Mahatma Gandhi’s Birth Anniversary: A Day of Reflection and Inspiration

Freedom's Guardians: The Top 10 Freedom Fighters of India

Freedom’s Guardians: The Top 10 Freedom Fighters of India

Exploring  5 the Best Online Betting Games for Success

Exploring  5 the Best Online Betting Games for Success

Vedanta's Strategic Move: Demerger Plans to Create Six Listed Entities

Vedanta’s Strategic Move: Demerger Plans to Create Six Listed Entities

Mahatma Gandhi's Birth Anniversary: A Day of Reflection and Inspiration

Mahatma Gandhi’s Birth Anniversary: A Day of Reflection and Inspiration

India Strikes Gold Again in Shooting at Asian Games 2023 in Hangzhou

India Strikes Gold Again in Shooting at Asian Games 2023 in Hangzhou

Husband Quits Rs 84 Lakh Job, Wife Joins the Journey: The Road to a Rs 100 Crore Company

Husband Quits Rs 84 Lakh Job, Wife Joins the Journey: The Road to a Rs 100 Crore Company

Freedom's Guardians: The Top 10 Freedom Fighters of India
Blog

Freedom’s Guardians: The Top 10 Freedom Fighters of India

Exploring  5 the Best Online Betting Games for Success
Guest Posts

Exploring  5 the Best Online Betting Games for Success

Vedanta's Strategic Move: Demerger Plans to Create Six Listed Entities
News

Vedanta’s Strategic Move: Demerger Plans to Create Six Listed Entities

Mahatma Gandhi's Birth Anniversary: A Day of Reflection and Inspiration
Blog

Mahatma Gandhi’s Birth Anniversary: A Day of Reflection and Inspiration

India Strikes Gold Again in Shooting at Asian Games 2023 in Hangzhou
News

India Strikes Gold Again in Shooting at Asian Games 2023 in Hangzhou

Business Connect is a business magazine whose name is derived from Business Community which connects entrepreneurs, executive officers and VCs. With a mission to have one of the highest readership figures of senior-level executives and investors in India, Business Connect brings its edition on monthly basis.

Follow Us

Recent News

Freedom's Guardians: The Top 10 Freedom Fighters of India

Freedom’s Guardians: The Top 10 Freedom Fighters of India

Exploring  5 the Best Online Betting Games for Success

Exploring  5 the Best Online Betting Games for Success

Contact Information

Address: 701, Vishwa Sadan Building, Janakpuri West, New Delhi-110058

Phone Number: +91-11-41065208, 42636209

Contact to Get Feature as Guest Post : info@businessconnectindia.in

Mail: abhishek@businessconnectindia.in / events@businessconnectindia.in

  • About us
  • Why us
  • Healthcare
  • Guest writers
  • Career

© 2020 All Rights Reserved by Business Connect India

No Result
View All Result
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Guest Posts
  • Launchpad
  • Blogs
  • Testimonials

© 2020 All Rights Reserved by Business Connect India

Need Help? Chat with us
Start a Conversation
Hi! Click one of our member below to chat on Whatsapp
The team typically replies in a few minutes.
Ashish Kumar
Sales & Support