Saudi Aramco

Saudi Aramco is a Saudi state-controlled petroleum and natural gas company, officially known as the Saudi Arabian Oil Company. It is among the world’s largest oil producers and operates across the energy industry.

Ghawar Field: Ghawar is a giant oil field in eastern Saudi Arabia and one of the world’s largest conventional oil fields. Its production has anchored Saudi Aramco’s crude-oil output for decades.
Dammam No. 7: Dammam No. 7 was the first commercially productive oil well in Saudi Arabia, completed in 1938. Its success established the commercial basis for the company’s Saudi operations.
OPEC: OPEC is an intergovernmental organization of oil-exporting countries that coordinates petroleum policies among members. Saudi Arabia’s production choices, including those involving Aramco, matter to OPEC policy.
Petrodollar recycling: Petrodollar recycling is the reinvestment of revenues earned from petroleum exports into foreign assets, goods, or financial markets. Saudi oil revenue associated with Aramco has helped shape international capital flows.
Abqaiq oil processing facility: Abqaiq is a major Saudi oil-processing complex that treats crude oil before export or further processing. It prepares much of Saudi Aramco’s crude for transport and sale.
Standard Oil of California: Standard Oil of California was an American oil company that later became part of Chevron. It secured the concession that began the enterprise that became Saudi Aramco.
Oil price: An oil price is the market value assigned to a quantity or grade of crude oil or petroleum product. Aramco’s production and sales influence supply expectations and benchmark prices.
Resource curse: The resource curse is the pattern in which resource-rich economies experience weaker development or governance outcomes than expected. Saudi Arabia’s dependence on oil income makes diversification a persistent economic challenge.
East-West Crude Oil Pipeline: The East-West Crude Oil Pipeline carries oil from eastern Saudi Arabia to the Red Sea port of Yanbu. It gives Saudi Aramco an export route that bypasses the Strait of Hormuz.
Arabian American Oil Company: Arabian American Oil Company, or Aramco, was the predecessor company that developed Saudi Arabia’s oil industry. Saudi Aramco inherited its assets and operations after Saudi ownership expanded.

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