Todd Bishop
The attack on Saudi Arabia’s oil facilities led to a decline in Saudi oil production, an increase in oil prices, and once touched the nerves of the United States and Iran. Speaking of this victim, what kind of company is Saudi Aramco, and why can the incident have such a big impact?
Saudi Aramco, also known as the Saudi Arabian National Oil Company (ARAMCO), is a national oil company in Saudi Arabia. The company employs 65,000 people worldwide and its operations include mining, refining, shipping, oil and gas marketing.
The most influential company in the world
Saudi Aramco has the world’s largest onshore oil field, the Ghawar Oil field, and the Safaniya Oil Field. Located in the eastern part of Saudi Arabia, the Gawar oil field is the largest oil field in the world with a total reserve of more than 70 billion barrels. It is one of the most important sources of crude oil in the world.
The company issued a report in April, showing that Saudi Aramco is the most profitable company in the world. In 2018, the company’s net profit was as high as $111 billion and its revenue was close to $356 billion. Compared to Apple’s full-year net profit of 60 billion US dollars, the world’s second largest oil company Royal Dutch Shell (Royal Dutch Shell) net profit is only 23 billion US dollars, a far cry.
Therefore, Saudi Aramco can be regarded as the lifeblood of the Saudi state. Operating Saudi Aramco can even be said to be equivalent to operating a country. It is a company that has a great influence on the situation in the Middle East.
The attack will delay the listing plan
However, the oil field will have a day to go, and the international oil price changes will directly affect the national income. Saudi Aramco has been preparing for listing recently, in order to get Saudi Arabia out of excessive dependence on oil. Saudi Arabia is expected to be close to $1.5 trillion, although it is less than the $2 trillion that Crown Prince Mohammed bin Salman calls, but it is still the world’s largest initial public offering (IPO).
Muhammad hopes to raise funds through the listing to assist the country’s reform and development, which is the most important one of Saudi Arabia’s 2030 vision development plan.
However, Saudi Aramco’s listing plan has been delayed due to various problems. The Minister of Energy, Abdulaziz bin Salman, said on September 9 that Saudi Aramco should be listed as soon as possible. The US Wall Street Journal reported that the attack It is expected that the listing plan will be postponed again.
