Saudi Aramco is the state-owned oil company of Saudi Arabia. It is one of the largest oil companies in the world and is responsible for the exploration, production, and export of crude oil and natural gas from Saudi Arabia.
The company was founded in 1933 as the California Arabian Standard Oil Company (CASOC) and was later renamed to Arabian American Oil Company (ARAMCO). In 1988, the Saudi Arabian government took full control of the company and renamed it the Saudi Arabian Oil Company (Saudi Aramco).
Saudi Aramco is the world’s largest oil producer and exporter and holds the world’s largest proven crude oil reserves of 260 billion barrels. The company is also a major player in natural gas production, with proven reserves of over 300 trillion cubic feet.
In addition to its core oil and gas business, the company also has a refining and petrochemical division, which produces a wide range of products including gasoline, diesel, jet fuel, and petrochemicals. It also has a downstream business that handles the distribution and marketing of its products.
Saudi Aramco is also involved in research and development in the field of energy and environmental technology and is investing in renewable energy projects such as solar and wind power.