Saudi Aramco
Saudi Arabian state-owned petroleum company
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2024 | Saudi Aramco's total oil production reached 12.7 million barrels of oil equivalent per day, managing over one hundred oil and gas fields in Saudi Arabia. |
December 31 2024 | Saudi Aramco continued to show resilience, reporting revenue of $480,446 million, net income of $106,246 million, and total assets of $646,301 million for the financial year. |
December 9 2024 | Aramco signed an agreement with SLB and Linde to build a carbon capture and storage project in Jubail, Saudi Arabia, where Aramco will own 60% of the project. The first phase is estimated to be completed by the end of 2027, with a capacity to capture and store up to 9 million metric tons of carbon dioxide annually. |
December 2023 | Saudi Aramco acquired 40% shares in Gas & Oil Pakistan for an undisclosed amount. |
December 31 2023 | The company experienced a slight decline in financial performance, with revenue decreasing to $495,033 million, net income reducing to $121,271 million, while maintaining substantial total assets of $660,784 million. |
October 2023 | Saudi Aramco announced a direct air capture pilot program in partnership with Siemens Energy, to be completed in 2024. |
September 2023 | Saudi Aramco reached an agreement to acquire Esmax Distribución SPA, a Chilean fuel retailer, marking its entry into the South American fuel retailing market. |
September 2023 | Saudi Aramco signed a $2.9 billion contract with Larsen & Toubro for the Jafoor unconventional gas development expansion project in Saudi Arabia. |
March 2023 | Saudi Aramco announced record profits of $161 billion, exceeding ExxonMobil and Shell's profits. |
March 2023 | Saudi Aramco announced plans to acquire a 10% stake in China's Rongsheng Petrochemical Co. Ltd for an estimated $3.6 billion and build a new refining and petrochemical complex. |
2022 | Created a joint venture with North Huajin Chemical Industries group to form Huajin Aramco Petrochemical Company, planning to develop a 300,000 bpd refining facility with ethylene steam cracking capabilities. |
2022 | Free digital access to the magazine's complete back issue archive was made available through the magazine's website, spanning the years 1960-2022. |
December 31 2022 | Saudi Aramco achieved its highest recorded financial performance, with revenue soaring to $604,366 million, net income climbing to $161,068 million, and total assets growing to $664,780 million. |
August 2022 | Saudi Aramco announced the acquisition of Valvoline's petroleum unit for $2.65 billion. |
May 11 2022 | Saudi Aramco became the largest company in the world by market capitalization, surpassing Apple Inc. |
March 2022 | Houthi fighters attacked an Aramco storage site in Jeddah, causing a fire in two storage tanks during the first practice session of the Saudi Arabian Grand Prix. |
December 31 2021 | The company showed strong recovery, with revenue increasing to $400,468 million, net income reaching $109,972 million, and total assets expanding to $576,718 million. |
November 20 2021 | Houthi fighters launched 14 drones targeting military sites in Riyadh, Abha, Jizan, Najran, Jeddah, and Aramco's refineries in Jeddah. |
October 2021 | Saudi Aramco announced plans to achieve net-zero carbon emissions from its wholly-owned operations by 2060. |
July 2021 | Saudi Aramco appointed former HSBC Holdings Plc Chief Executive Officer Stuart Gulliver to the company's board of directors. |
March 21 2021 | Saudi Aramco signed a 50-year agreement to secure China's energy supplies and develop new climate change technologies. |
March 19 2021 | An Aramco refinery was attacked by six bomb-laden drones, claimed by Houthi rebels, which started a fire but caused no injuries or damage. |
December 31 2020 | Despite global economic challenges, Saudi Aramco reported a reduced but still substantial net income of $49,003 million, with total assets growing to $404,102 million. |
December 14 2020 | An oil tanker carrying over 60,000 metric tons of unleaded gasoline from an Aramco refinery at Yanbu was attacked by a smaller boat rigged with explosives. |
December 9 2020 | Financial Times published an article detailing a COVID-19 related death of a Saudi Aramco engineer, highlighting allegations of negligence in handling the employee's infection and subsequent treatment of his family. |
November 3 2020 | Saudi Aramco reported a 44.6% drop in third-quarter net profit amid the COVID-19 pandemic. |
August 9 2020 | Saudi Aramco reported a 50% fall in net income for the first half of its financial year due to reduced oil demand and prices during the coronavirus crisis. |
July 31 2020 | Saudi Aramco lost its title as the world's largest listed company by market capitalization to Apple. |
June 2020 | Saudi Aramco laid off nearly 500 employees, primarily foreign workers, due to workforce reductions during the COVID-19 pandemic. |
June 17 2020 | Saudi Aramco acquired a 70% share in SABIC, a chemicals manufacturing company. |
March 2020 | Saudi Aramco faced significant public criticism after photos emerged of a migrant worker dressed as a hand-sanitizer dispenser, which was widely condemned on social media as degrading and a form of modern-day slavery. The company stated that the display was not approved by its official management. |
March 10 2020 | Saudi Aramco announced a global partnership with Formula One, securing a multi-year deal. |
2019 | The movie 'Born a King' was released in theaters in Saudi Arabia and Ithra, telling the story of Prince Faisal's trip to the United Kingdom. |
December 12 2019 | Saudi Aramco's market capitalization surpassed the US$2 trillion mark on the second day of trading. |
December 11 2019 | Saudi Aramco commences trading on Tadawul, with shares rising 10% to 35.2 riyals, achieving a market capitalization of approximately US$1.88 trillion and becoming the world's largest listed company. |
December 11 2019 | Saudi Aramco's shares began trading on the Saudi Exchange, initially rising to 35.2 Saudi riyals and achieving a market capitalization of approximately US$1.88 trillion. |
December 4 2019 | Saudi Aramco prices its IPO offering at 32 Saudi riyals per share, generating US$119 billion in subscriptions (456% of total offer shares). |
November 9 2019 | Saudi Aramco releases a 600-page prospectus detailing the IPO, with up to 0.5% of shares reserved for individual retail investors. |
November 6 2019 | Saudi Aramco joined the World Bank's initiative to reduce gas flaring to zero by 2030. |
November 3 2019 | Aramco announces its plan to list 1.5% of its value as an IPO on the Tadawul stock exchange. |
September 2019 | Saudi Arabia appointed Yasir Al-Rumayyan as the Chairman of Aramco, replacing Khalid Al Falih who had held the position since 2015. |
September 14 2019 | Houthi rebels conducted a drone attack on two Saudi Aramco facilities: the Abqaiq oil processing facility and Khurais oil field. The attack significantly disrupted Saudi oil production, cutting 5.7 million barrels per day (over 5% of global oil supply), and prompted discussions about postponing Aramco's IPO due to the substantial impact on the kingdom's oil output. |
April 11 2019 | Saudi Aramco signed an agreement with Poland's leading oil refiner PKN Orlen to supply Arabian Crude Oil, further extending its global market presence in Europe. |
April 9 2019 | Aramco issues international bonds valued at US$12 billion, receiving over US$100 billion in orders from foreign investors, breaking records for an emerging market bond issue. |
April 1 2019 | Saudi Aramco acquired a 13% stake in South Korean oil refiner Hyundai Oilbank for US$1.24 billion, expanding its global investment portfolio in Asia. |
2018 | Saudi Arabia begins considering putting up to 5% of Saudi Aramco's ownership on public trading via an initial public offering (IPO). |
December 31 2018 | The company experienced significant financial growth, with revenue increasing to $359,204 million, net income rising to $111,071 million, and total assets reaching $359,171 million. |
December 31 2017 | Saudi Aramco reported annual revenue of $264,176 million, with a net income of $75,898 million and total assets of $294,014 million for the financial year. |
November 2017 | Jeddah Refinery was converted to a product storage terminal. |
April 26 2017 | Saudi security forces thwarted an attempted attack on an Aramco oil distribution center involving an unmanned boat from Yemen. |
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