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Value of revenue of Saudi Aramco 2017-2019

Saudi Aramco had a revenue of about 295 billion U.S. dollars in the year 2019. This was a decrease from about 319 billion U.S. dollars in the previous year.

Saudi Aramco overview

Saudi Aramco, also known as Saudi Arabian Oil Company, is the world's biggest oil producer. It was established in the city of Dhahran in Saudi Arabia. Over the past 80 years it became the world’s leader in hydrocarbons exploration, production, refining, distribution, and marketing. Saudi Aramco’s oil and gas production infrastructure leads the industry in production scale, operational reliability, and technical advances. Today, it is the most profitable company worldwide, surpassing the world’s biggest companies such as Google and Apple with a net income which exceeded 88 billion U.S. dollars in 2019. It manages proven conventional crude oil and condensate reserves of 261.1 billion barrels, and its average daily crude oil production is 10.2 million barrels.

Saudi oil industry

In 2018, the Saudi Arabian oil and gas sector made up around 50 percent of the country’s GDP and 70 percent of its export income. The country’s oil industry alone makes up 17 percent of the world’s reserves. Saudi Arabia has the second largest oil reserve in the world, which measured more than 40 billion metric tons in 2019. Its oil production in 2019 exceeded 11.8 million barrels per day. Moreover, it is the global export leader in the oil industry. The huge quantity of petroleum and the ease of extraction gave the country an edge over other oil producers, making them more cost effective.

Value of revenue of Saudi Aramco from 2017 to 2019

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Source

Release date

March 2020

Region

Saudi Arabia

Survey time period

2017 to 2019

Supplementary notes

Data collected from several reports.

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Statistics on "Saudi Aramco"

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