Saudi aramco annual report 2012 pdf

The first official glimpse of saudi aramcos financial performance confirms the staterun oil giant can generate profit like no other company on earth. A similar process had taken place with american oil companies in venezuela a few years earlier. Pdf saudi aramco annual report 2012 oil and gas saudi arabia. Director of asset services division, saudi stock exchange company tadawul, 2007 2012.

Banque saudi fransi, saudi joint stock company, capital of sar 12,053,571,670. We are driven by the core belief that energy is opportunity. Operation saudi aramco is headquartered in dhahran, but its operations span the globe and. Phillips 66 partners lp owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids pipelines and terminals, as well as other transportation and midstream assets in the united states. In 1949, aramco had made incursions into the emirate of abu dhabi now part of the uae, leading to a border dispute between abu dhabi and saudi arabia. The natural resource governance institute nrgi helps people to realize the benefits of their countries endowments of oil, gas and minerals. The arabian sun is saudi aramcos weekly internal publication that provides news and feature stories covering company events, news, and appointments in addition to employee and community activities.

In 1950, king abdulaziz threatened to nationalize his countrys oil facilities, thus pressuring aramco to agree to share profits 5050. Aramco computers were attacked by a virus on 15 august 2012. Deputy minister for internal trade, ministry of commerce and investment, 2014 2016. Plant in saudi arabia commenced production and anjar lsaw facility was commissioned. Annual reports the achievements in research and graduate studies at alfaisal university over the past academic years are described in these annual reports. Saudi aramco is a world leader in technological applications and bestpractices and our report will also focus on the key milestones across the national oil company. It is dependent on oil as the country has the secondlargest proven petroleum reserves, and the country is the largest exporter of petroleum in the world. Headquartered in the city of dhahran, the company operates in eight locations within the kingdom and 20 locations overseas, and employs around 76,000 people.

Saudi aramco is a world leader in integrated energy and chemicals. Three out of six research proposals submitted by faculty members have been accepted for funding as part of the saudi aramco university collaboration program ucp. Saudi aramcos oil reserves confirmed by external audit. Their response contradicts widespread belief that executives in saudi arabia and. Saudi aramco continues to spearhead growth and innovation as the worlds largest oil producing and exporting company across its upstream, midstream and downstream operations. In addition, the continuing challenges facing the institution are also outlined. Saudi aramcos crude output rose to annual record in 2016. However, the exact details of this engagement have yet to be fully documented in a systemized manner that sufficiently captures all of its variances and details. University faculty in the saudi aramco university collaboration programs ucp.

In the event of any discrepancy, the arabic version shall prevail. Saudi arabia plans to reduce its dependence on oil by diversifying. Exxonmobils long history in saudi arabia started more than 90 years ago with the marketing of petroleum products in the kingdom followed 20 years later by its participation in the original arabian american oil company aramco. Saudi aramco is the worlds largest integrated oil and gas company. It also has the fifthlargest proven natural gas reserves and is considered an energy superpower. The staff report prepared by a staff team of the imf for the executive boards consideration on july 18, 2016 following discussions that ended on may 12, with the officials of saudi arabia on economic developments and policies. Basis of preparation and accounting policies continued 2.

General manager of the strategy group, alrajhi bank, 2012 2014. In saudi arabia in 2012, the saudi organization for certified public accountants socpa approved an international financial reporting standards ifrs convergence plan, called the socpa project for transition to international accounting and auditing standards. Apr 01, 2019 the first official glimpse of saudi aramcos financial performance confirms the staterun oil giant can generate profit like no other company on earth. The pqc is a permanent committee with membership comprising of major. Saudi aramco fullyear 2019 nonifrs measures reconciliation. In april 2019, aramco has signed a deal to acquire a % stake in south korean. July 18, 2016 consideration of the staff report that concluded the article iv consultation with saudi arabia.

Saudi aramcos role in the world of energy presented to global finance forum on oil price volatility, economic impacts and financial management by yasser mufti, saudi aramco todays oil fundamentals despite near term downside risks, todays economy is more global, interconnected and better managed than at any other time. Articles present technical information aimed at advancing the hydrocarbon industry. The saudi aramco journal of technology is published quarterly to provide the companys scientific and engineering communities with a forum for the exchange of ideas. Middle east regional oil use rose to an estimated 7. Saudi aramco, shell, statoil, total and transcanada to name a few. Corporate social responsibility csr and sustainability data for saudi aramco, oil and gas extraction and saudi arabia. Electricity sector in the kingdom of saudi arabia by merging the. Session 7b saudi aramcos role in the world of energy. The financial and operational aspects of saudi aramco are covered in this annual report. In response to an invitation by saudi aramco, a total of 65 basic and applied research. Select month january february march april may june july august september october november december. Inkingdom total value add iktva program saudi aramco. Global energy demand continued to grow, particularly in asia where saudi aramco.

Saudi aramco officially the saudi arabian oil company is a saudi arabian multinational. Heres everything you need to know about the saudi aramco ipo but didnt know to ask. M16 dated 6 ramadan 1420h corresponding to december 1999. An economic history 4 gulf research center by far, the sinosaudi engagement appears to be one of the most promising and exciting stories of the early 21st century. Session 7b saudi aramcos role in the world of energy world bank. Payment systems officer, saudi arabian monetary agency sama, 1997 2002. Phillips 66 partners lp owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids pipelines and terminals, as well as other transportation and midstream assets in. They encouraged the authorities to take an integrated assetliability management approach to financing the fiscal deficit. W cquired 35% stake in leighton contractors india a private. Tony blair chairman of the council quartet representative and former prime minister of great britain and northern ireland london, united kingdom khalid a.

Sadara honors winners of 2nd annual sadara environmental. Press releases 74 select year 2019 2018 2017 2016 2015 2014 20 2012 2011. Saudi basic industries corporation sabic and its subsidiaries a saudi joint stock company notes to the consolidated statements continued for the year ended 31 december 2018 all amounts in saudi riyals unless otherwise stated 16 2. The annual report covers the period from january 1, 2019 to december 31, 2019 and has been issued in both arabic and english. In june 2019, a report by financial times claimed that aramco had been bearing. Board of directors report independent auditors report 17 a new era of diversification section 3 2015 geographical sales and revenues analysis refined products sales destination % saudi arabia 77. Introduction the power quality committee pqc was formed according to the recommendations of 2004 pq workshop held in riyadh march, 2004. The arabian sun is saudi aramco s weekly internal publication that provides news and feature stories covering company events, news, and appointments in addition to employee and community activities.

Alfalih president and chief executive officer saudi aramco dhahran, saudi arabia kofi a. The first independent audit of saudi aramcos ipoarmo. From producing approximately one in every eight barrels of the worlds crude oil supply to developing new energy technologies, our global team is dedicated to creating positive impact in all that we do. Concurrently, saudi aramco is moving steadily to build a world leading position in the downstream segment of the business. Home investors performance and financial highlights annual reports. Environment 45 employees na community 45 governance 41.

Saudi aramco annual report 2012 oil and gas saudi arabia this document is part of the source library for nrgis national oil company database, an open database of facts and figures on more than 70 national oil companies worldwide. Annual report 2019 download full version annual report 2018 download full version annual report 2017 download full version. Pdf corporate social responsibility in saudi arabia. Morgan international council as of december 31, 2012. With the nearcompletion of its largest oil projects, saudi arabia is expanding its. These consolidated financial statements are the responsibility of the groups management. Confidential the inkingdom total value add iktva program the objective is to drive key activities towards localization and job creation, which will be assessed against the following metrics. Get the inside skinny on the aramco ipo and what it means for the coming shakedown of the global monetary order in this weeks edition of the corbett report subscriber. The satorp and yasref joint venture projects, for example, not only add to the development of a knowledgebased economy in the kingdom by providing technical job opportunities for thousands of saudi technicians, engineers, and operators, they also incubate saudi owned small and mediumsized manufacturers and service providers saudi aramco. The economy of saudi arabia is one of the top twenty economies in the world. The pqc is a permanent committee with membership comprising of major industries, institutional firms and utilities such as saudi.