Try our corporate solution for free!
(212) 419-8286
hadley.ward@statista.com

Saudi Aramco- statistics & facts

Saudi Aramco, founded in 1933 as California-Arabian Standard Oil Company, started its first oil drilling on Saudi soil in 1938, in order to quench European and North American demand for oil during the second World War. Later, the company was re-named Arabian-American Oil Company in 1944 and extended its oil exploration ventures onto the wider Arabian Peninsula. After a dispute with the then Saudi King Abdulaziz, the company started to share half of its profits with the Saudi Arabian States. As a result of the Yom Kippur war of 1973, Arab oil producing states imposed an oil embargo towards countries supporting Israel during the conflict. In the aftermath, the Saudi Arabian government gradually started to nationalize Saudi Aramco and as of 1981 it became 100 percent state-owned. Saudi Arabia is today a rentier state, as 23 percent of its GDP is generated from oil rent. Saudi Arabia has established itself as the de facto leader of OPEC.

Saudi Aramco’s global standing

As of recently, Saudi Aramco employs 65 thousand people. It is considered one of the most profitable company worldwide, right behind Apple and Microsoft. The total revenue of Saudi Aramco for the financial year was 205 U.S. dollars. Saudi Aramco’s leadership in the oil industry is also reflected when comparing it with other major oil and gas companies. Saudi Aramco is the global leader in daily crude oil production, followed by Exxon mobile and BP, who produce less than a third of its crude oil. The production fields in Saudi Arabia are able to extract a barrel of crude oil for 10 U.S. dollars per barrel. This led to 213 billion U.S. dollars in profits last year, dwarfing the profits of other major oil companies.

Saudi Aramco’s IPO

Even before its initial public offering, Saudi Aramco’s cash flow was evaluated at 85.5 billion U.S. dollars. The company’s total value is estimated between 1.5 and 1.7 trillion U.S. dollars. The IPO for Saudi Aramco is planned in two stages. During the first stage in 2019, about 2-3 percent of the company was sold in Tadawul shares at the Saudi Stock Exchange. Saudi Aramco’s IPO raised 29.4 30 billion U.S. dollars, thus, is for the time being the largest IPO since Alibaba’s in 2014, in which 25 billion U.S. dollars were raised. The IPO of the China’s Ant Group was supposed to surpass the value of Saudi Aramco’s raised funds with 34.5 billion U.S. dollars. However, it was suspended for the time being .In the second stage, Saudi Aramco’s shares will be listed at a foreign exchange, although, this decision has not been made final yet.

Saudi Arabia’s economic reforms

This bold move in transforming Saudi Aramco, from a state-owned cooperation into a partly public company, is all a part of Saudi Arabia’s crown prince, and de facto leader of the country, Muhammad bin Salman’s idea to modernize the Kingdom. According to the Agenda 2030, the Saudi Arabian government is planning to diversify its economy and to end its dependency from the oil revenue. Saudi Aramco’s IPO was a crucial step in the reformation of the Saudi economy and society.

Especially through the global coronavirus pandemic in 2020 it becomes clear, how important this step is for the Saudi Arabian government, as the worldwide demand of oil dropped drastically and therefore the oil production in the kingdom had to adjust by reducing their planned output.

Key figures

The most important key figures provide you with a compact summary of the topic of "Saudi Aramco" and take you straight to the corresponding statistics.

Production

Saudi Aramco finance

Gas

Interesting statistics

In the following 6 chapters, you will quickly find the 26 most important statistics relating to "Saudi Aramco".

Saudi Aramco

Dossier on the topic

All important statistics are prepared by our experts – available for direct download as PPT & PDF!
TOP SELLER

Saudi Aramco- statistics & facts

Saudi Aramco, founded in 1933 as California-Arabian Standard Oil Company, started its first oil drilling on Saudi soil in 1938, in order to quench European and North American demand for oil during the second World War. Later, the company was re-named Arabian-American Oil Company in 1944 and extended its oil exploration ventures onto the wider Arabian Peninsula. After a dispute with the then Saudi King Abdulaziz, the company started to share half of its profits with the Saudi Arabian States. As a result of the Yom Kippur war of 1973, Arab oil producing states imposed an oil embargo towards countries supporting Israel during the conflict. In the aftermath, the Saudi Arabian government gradually started to nationalize Saudi Aramco and as of 1981 it became 100 percent state-owned. Saudi Arabia is today a rentier state, as 23 percent of its GDP is generated from oil rent. Saudi Arabia has established itself as the de facto leader of OPEC.

Saudi Aramco’s global standing

As of recently, Saudi Aramco employs 65 thousand people. It is considered one of the most profitable company worldwide, right behind Apple and Microsoft. The total revenue of Saudi Aramco for the financial year was 205 U.S. dollars. Saudi Aramco’s leadership in the oil industry is also reflected when comparing it with other major oil and gas companies. Saudi Aramco is the global leader in daily crude oil production, followed by Exxon mobile and BP, who produce less than a third of its crude oil. The production fields in Saudi Arabia are able to extract a barrel of crude oil for 10 U.S. dollars per barrel. This led to 213 billion U.S. dollars in profits last year, dwarfing the profits of other major oil companies.

Saudi Aramco’s IPO

Even before its initial public offering, Saudi Aramco’s cash flow was evaluated at 85.5 billion U.S. dollars. The company’s total value is estimated between 1.5 and 1.7 trillion U.S. dollars. The IPO for Saudi Aramco is planned in two stages. During the first stage in 2019, about 2-3 percent of the company was sold in Tadawul shares at the Saudi Stock Exchange. Saudi Aramco’s IPO raised 29.4 30 billion U.S. dollars, thus, is for the time being the largest IPO since Alibaba’s in 2014, in which 25 billion U.S. dollars were raised. The IPO of the China’s Ant Group was supposed to surpass the value of Saudi Aramco’s raised funds with 34.5 billion U.S. dollars. However, it was suspended for the time being .In the second stage, Saudi Aramco’s shares will be listed at a foreign exchange, although, this decision has not been made final yet.

Saudi Arabia’s economic reforms

This bold move in transforming Saudi Aramco, from a state-owned cooperation into a partly public company, is all a part of Saudi Arabia’s crown prince, and de facto leader of the country, Muhammad bin Salman’s idea to modernize the Kingdom. According to the Agenda 2030, the Saudi Arabian government is planning to diversify its economy and to end its dependency from the oil revenue. Saudi Aramco’s IPO was a crucial step in the reformation of the Saudi economy and society.

Especially through the global coronavirus pandemic in 2020 it becomes clear, how important this step is for the Saudi Arabian government, as the worldwide demand of oil dropped drastically and therefore the oil production in the kingdom had to adjust by reducing their planned output.

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Hadley Ward
Hadley Ward
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Ziyan Zhang
Ziyan Zhang
Customer Relations– Contact (Asia)

Mon - Fri, 11:30am - 10pm (IST)

Contact Kisara Mizuno
Kisara Mizuno
Customer Success Manager– Contact (Asia)

Mon - Fri, 9:30am - 5:30pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Catalina Rodriguez
Catalina Rodriguez
Key Account Manager - LAC– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)