July 27, 2016 4:58 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Saudi Arabian Oil Company

Company Overview

Saudi Arabian Oil Company is an integrated energy and chemicals company in Saudi Arabia. The company explores, produces, refines, distributes, ships, and markets hydrocarbons; produces petrochemical products; and produces and exports crude oil and natural gas liquids. Saudi Arabian Oil Company was formerly known as Arabian American Oil Company and changed its name to Saudi Arabian Oil Company in November 1988. The company was founded in 1933 and is based in Dhahran, Saudi Arabia with subsidiaries and affiliates in Saudi Arabia, China, Egypt, Japan, India, the Netherlands, Korea, Singapore, the United Arab Emirates, the United Kingdom, Canada, and the United States.

North Park 3

Building 3302

P.O. Box 5000

Dhahran,  31311

Saudi Arabia

Founded in 1933


966 13 872 0115


966 13 873 8190

Key Executives for Saudi Arabian Oil Company

Chief Executive Officer, President and Director
Senior Vice President of Finance, Strategy and Development
Senior Vice President of Operations & Business Services
Senior Vice President of Technical Services
Senior Vice President of Technical Services
Age: 56
Compensation as of Fiscal Year 2016.

Saudi Arabian Oil Company Key Developments

Saudi Aramco Signs $13 Billion Deal for New Domestic Gas Project

Saudi Aramco announced that it has signed a deal for a new gas project that will be worth more than SAR 50 billion ($13.3 billion) when complete in 2019 aimed at meeting the kingdom's growing domestic demand for energy.

Saudi Aramco Withdraws from Vietnam Refinery/Petchem JV Project

Saudi Aramco has decided to withdraw from the proposed development of a joint venture refinery and petrochemical complex in Vietnam with PTT. Saudi Aramco has decided to withdraw from further development of Victory project with effective date of July 1, 2016. PTT and Saudi Aramco had jointly submitted detailed feasibility study for the $22 billion Victory project in Binh Dinh province to the Vietnamese government in 2014. The two companies were planning to have an equal stake of 40% each in the Vietnam project, which will be able to process 400,000 bbl/day of crude oil, with the Vietnamese government holding the remaining 20%.

Saudi Aramco and Saudi Arabian Basic Industries Corporation Sign Head of Agreement on Feasibility Study for Oil-To-Chemicals Complex

Saudi Aramco and Saudi Arabian Basic Industries Corporation (SABIC) have signed heads of agreement to conduct a feasibility study on the development of a fully integrated crude oil-to-chemicals complex to be located in Saudi Arabia. The heads of agreement contains key principles of cooperation that will form the basis for the companies to establish a joint venture, if the joint study reaches a positive conclusion. Derived from improved refining technology, the crude oil-to-chemicals process will involve innovative configurations with proven conversion technologies. This will create a fully integrated petrochemical complex which maximizes chemical yield, transforms and recycles by-products, drives efficiencies of scale and resource optimization and diversifies the petrochemical feedstock mix in the Kingdom.

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