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BullsOil.com  World Giants  >  Saudi Aramco
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The state-owned national oil company of Saudi Arabia, is the largest oil corporation in the world and the world's largest in terms of proven crude oil reserves and production. Headquartered in Dhahran, Saudi Arabia, Saudi Aramco also operates the world's largest single hydrocarbon network, the Master Gas System. It was formerly known as just Aramco between the years of 1933-1988, an acronym for Arabian American Oil Company.

As of end 2006, its yearly production of only crude oil neared 3.4 billion barrels (540,000,000 m) and it managed over 100 oil and gas fields in Saudi Arabia alone totaling at least 264 billion barrels (42,000,000,000 m) of oil reserves and 253 quadrillion scf of gas reserves.

Among those fields fully owned by the company are the Ghawar Field, the world's largest field overall; the Safaniya Field, also the world's largest offshore; and the Shaybah Field, one of the world's largest of its kind.

Saudi Aramco's history dates back to May 29, 1933, when the Government of Saudi Arabia signed a concessionary agreement with Standard Oil of California (Socal) allowing them to explore Saudi Arabia for oil. Standard Oil of California passed this concession to a wholly-owned subsidiary called California-Arabian Standard Oil Co. (Casoc). In 1936 with the company having no success at locating oil, the Texas Oil Company purchased a 50% stake of the concession.
Type Government-owned corporation of the Kingdom of Saudi Arabia
Founded 1933
Headquarters  Dhahran, Saudi Arabia
Key people Abdullah S. Jum'ah: President, CEO
Ali I. Al-Naimi: Minister of Petroleum
Industry Oil & Gas
Products Hydrocarbons: crude oil, natural gas, and petroleum products.
Oilfield services: oil exploring, producing, manufacturing, marketing, and shipping
Revenue Undisclosed to public
Employees 51,356 (2006)
Website www.saudiaramco.com