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State-owned Saudi Arabian Oil Co. (Saudi Aramco) is the king of oil. It is the world's #1 oil producer, supplying more than 10% of the world's oil demand. In 2007 the company controlled proved oil reserves of about 259.9 billion barrels. It produces 8.5 million barrels a day, operates refineries, markets oil internationally, and distributes it domestically. Saudi Aramco owns a fleet of oil tankers and invests in refineries and distribution networks in other countries; it also owns 253.8 trillion cu. ft. of natural gas reserves. The company dates back to 1933 when Saudi Arabia agreed to open up a large area for exploration by Standard Oil of California (now Chevron).
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| | | Contact Information | |
Address: |
P.O. Box 5000
Dhahran 31311, Saudi Arabia
| | Phone: | +966-3-872-0115 | | Fax: | +966-3-873-8190 |
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| Financial
Highlights | | Fiscal Year End: | December | | Revenue (2007): | 194000.00 M | | Revenue Growth (1 yr): | 15.50% | | Employees (2007): | 52,093 | | Employee Growth (1 yr): | 1.40% |
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Key People
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Chairman; Minister of Petroleum and Mineral Resources:
Ali I. Al-Naimi
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President, CEO, and Director:
Khalid A. Al-Falih
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SVP Finance:
Abdullatif A. Al-Othman
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