Is Saudi Aramco a US company? What companies do Aramco own?

Is Saudi Aramco a US company? – Saudi Aramco is not a company based in the United States. Aramco, officially known as Saudi Arabian Oil Company, is a public Saudi Arabian petroleum and natural gas business headquartered in Dhahran.

The roots of Saudi Aramco may be traced back to World War I oil shortages and the exclusion of American businesses from Mesopotamia by the United Kingdom and France under the San Remo Petroleum Accord of 1920.

Following the United States backing for Israel during the Yom Kippur War in 1973, the Saudi government purchased a 25% “participation interest” in Aramco’s assets. In 1974, it increased its participation interest to 60%, and in 1976, it bought the remaining 40% equity.

Before 1988, Aramco operated and managed the old Aramco assets on behalf of the Saudi Arab Government, including its concessionary interest in some Saudi Arab oil fields.

A royal order in November 1988 established a new Saudi Arab corporation, the Saudi Arabian Oil Company, to take control of the former Aramco assets (or Saudi Aramco) and transfer management and operational control of Saudi Arabia’s oil and gas fields from Aramco and its partners. High-quality oil and gas were discovered in three places south of Riyadh in 1989-90: the Raghib area, about 77 miles (124 kilometers) southeast of the city.

What companies does Aramco own?

Saudi Aramco’s subsidiary companies play an important role in the region’s thriving energy industry, serving as a major crude oil supplier to India, China (including Taiwan Province), Japan, South Korea, and the Philippines.

Aramco’s global activities and markets are supported via subsidiaries, joint ventures, and shareholding arrangements with various international partners, including:

• Arlanxeo.
• Petro Rabigh.
• PRefChem.
• SABIC.
• FREP.
• Hyundai Oilbank.
• Idemitsu Kosan.
• Motiva.

Source: abtc.ng