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SAUDI ARABIAN OIL CO.SAUDI ARABIAN OIL CO.SAUDI ARABIAN OIL CO.

SAUDI ARABIAN OIL CO.

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Saudi Arabian Oil CoSaturday, 1 October 2022 14:55 PM (WIB) Who we are We are one of the world's largest integrated energy and chemicals companies, creating value across the hydrocarbon chain, and delivering societal and economic benefits to people and communities around the globe who rely on the vital energy we supply. We are committed to playing a leading role in the energy transition. We have a responsibility to help the world achieve a net-zero economy, and our people are working hard to help solve the world's sustainability challenges. For our customers, we are a supplier of choice. For our shareholders, we provide long-term value creation. For communities around the world, our ambition is to provide reliable, affordable, and more sustainable energy. Our Perspective We believe in the power of energy to transform lives, enhance communities, advance human progress, and sustain our planet. With the global population forecast to increase by two billion over the next 25 years, even more, energy will be required to meet rising demand. It will take all available sources of energy to fill this need — both legacy and alternative sources. And while alternative energy sources are steadily making advances, they will not be capable of meeting future demand alone. Even as we transition to a low emissions future, hydrocarbon-based energy sources will be counted on to meet the bulk of the world’s energy demand well into the future. We’re committed to driving energy efficiency and addressing the global emissions challenge. And as the world's largest integrated oil and gas company, we believe we are uniquely qualified to make effective contributions to the overall solution. We have already demonstrated the potential of technology to reduce emissions from both mobile and stationary sources. We are also capturing emissions and turning them into useful industrial products and manufacturing feedstocks that boost economic growth and job creation. These successes, along with other strategies, have given us one of the lowest CO2 footprints in the oil and gas industry. At Saudi Aramco, we are proactively doing our part to reliably and sustainably provide energy products that enable people to seize opportunities that can transform our world. Where we're going We're explorers at heart. That drive to uncover the next frontier or solve the next great problem lies at the heart of our determination to succeed — and has allowed us to build one of the world’s most important energy and chemicals enterprises. To help ensure optimal future performance, we are focused on delivering greater value, creating additional organizational resilience, enabling continued growth, and developing future-proofing technology solutions. Over the next decade, we expect to continue making significant investments in our upstream operations. These strategic investments are designed to help reinforce our preeminent position in oil, maintain our maximum sustainable production capacity, and allow us to carry out an exploration and production program focused on finding and developing conventional and unconventional gas resources. Downstream, we are pursuing a strategy to grow our non-crude oil businesses and pursue tighter integration across our upstream and downstream operations. We see product diversification and global integration as a means to strengthen our portfolio resilience and deliver additional revenue streams for the company. Our 70% stake in SABIC accelerates our Downstream growth strategy and strengthens our chemicals platform, uniquely positioning us for continued growth and value creation in the petrochemicals industry, expected to be the fastest growing source of oil demand in the years ahead. We employ a wide range of capital efficiency practices to help lower capital costs and improve productivity, supporting the financial health of our company in various operating scenarios. Focusing on our underlying cost structure helps give us the tools we need to meet our goals of greater efficiency and cost competitiveness – without compromising on safety or our commitment to protect the environment. From engineering mega projects to creating industry-changing technologies to launching innovative new products, we have always had a relentless drive to succeed by maximizing the long-term, positive impacts we enable from our resources. Global Presence We are represented in the three major global energy markets of Asia, Europe and North America. Asia Saudi Aramco subsidiaries are key players in the region’s vibrant energy market and together act as a key crude oil supplier to India, China (including Taiwan Province), Japan, South Korea, and the Philippines. Under an aligned regional strategy, our local offices provide marketing and portfolio management services and other business support to us and our partners. Europe Saudi Aramco subsidiaries support a network of offices that provide a wide range of services including financial support, supply chain management, technical support services, and a variety of administrative support services. Americas Saudi Aramco Americas-based subsidiaries source goods and services, offer economic and political analysis and arrange the storage, transportation, and delivery of crude oil sold by Saudi Aramco or Saudi Refining to refiners in the United States. For more details about Saudi Arabian Oil Co. please visit the website.
TADAWUL:2222
by RyodaBrainless
Aramco eyes diversification after record Q2 income Is Saudi Aramco (TADAWUL: 2222) looking to diversify its income sources after soaring oil prices helped it deliver record-high earnings in the second quarter? Saudi Aramco saw its net income nearly double during the three-month period to 173.80 billion Saudi riyals ($46.28 billion) from 90.90 billion riyals. President and CEO Amin Nasser said increasing demand for the company's products made the record-high earnings possible, adding that it also benefitted from favorable market conditions stemming from strong global crude oil prices. But as oil prices begin to cool down, Saudi Aramco has set its sights on improving its technology and generating products from different sources. Reaching New Heights Saudi Aramco formally listed on the Saudi Stock Exchange Dec. 11, 2019. Upon its debut, it became the most valuable listed company with a market capitalization of $1.9 trillion. It was eventually dethroned by Apple (NASDAQ: AAPL), but thanks to oil price hikes, it reclaimed the title in May with a market value of $2.43 trillion against Apple's $2.37 trillion. Every movement in the company's price is heavily reliant on oil and energy prices. Saudi Aramco saw major growth when oil prices reach multi-year highs at the beginning of the second half. When war broke out between Russia and Ukraine, oil prices had another boost. Nowadays, industry observers aren't as bullish. Last week, oil prices tumbled amid fears that demand could weaken due to an impending economic slowdown, Reuters reported. Given this trend in oil prices, the company had been on the red, dropping nearly 3% to $39.00 since August 14. Its management does not seem fazed, however, with Nasser saying "we expect oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts." Off to new goals Nasser, as part of Saudi Aramco's second quarter results, said the company is working to increase production from multiple energy sources, including oil and gas, as well as renewables and blue hydrogen. "We are progressing the largest capital program in our history and our approach is to invest in the reliable energy and petrochemicals that the world needs, while developing lower-carbon solutions that can contribute to the broader energy transition," he added. Khalid Al-Falih, Saudi Arabia's Minister of Energy Industry and Mineral Resources and chairman of the Saudi Aramco's board, said the company will be on the frontline of the country's Vision 2030. He said the company "will become a much more technology and knowledge-driven organization" and that it "will seek to move, change, and expand into areas that will not only make it more agile and responsive, but also lead the industry into a better energy future."
TADAWUL:2222
by BlackBull_Markets