Petroleum Companies in Saudi Arabia

Petroleum Companies in the Kingdom of Saudi Arabia are organizations that carry out the exploration, production, and transportation of oil and gas resources around the world. These companies are dedicated to meeting the local demand for oil, gas, and other petroleum products, and supplying energy to their customers. They focus on innovating new technologies, enhancing employees' efficiency through training, and creating more job opportunities for citizens.

The origins of Saudi Arabian Oil Company 'Saudi Aramco' date back to 1933. Over the years, the company underwent various phases, with the Kingdom gradually increasing its ownership stake. By 1980, the Saudi government had fully acquired Saudi Aramco. After the full acquisition, Saudi Aramco expanded its operations, transitioning from an oil-producing and exporting company to an integrated petroleum enterprise, with the formation of Star Enterprises in 1989, a joint venture with Texaco in the United States. This partnership later evolved into Motiva Enterprises, initially a partnership with Texaco and Shell Companies. In 2017, Saudi Aramco became the sole owner of Motiva, acquiring full ownership of North America’s largest single-site crude oil refinery at Port Arthur, Texas.

In 2019, Saudi Aramco was transformed into a joint-stock company to be listed on the Saudi Stock Exchange (Tadawul.) In the same year, Saudi Aramco also signed a purchase agreement to acquire a 70 percent equity stake in the Saudi Basic Industries Corporation 'SABIC'.

Aramco Gulf Operations Company (AGOC), a subsidiary fully owned by Saudi Aramco, is responsible for managing the Kingdom's share in the offshore divided zone between the Kingdom and Kuwait. Saudi Aramco established Aramco Gulf Operations Company 'AGOC' in early 2000, with its headquarters in al-Khafji City in the Kingdom.

Saudi Arabian Chevron (SAC), a subsidiary owned by Chevron International, manages the Kingdom's share in the onshore divided zone between the Kingdom and Kuwait. The Royal Decree No. M/52 dated September 9, 2008, approved the extension and amendment agreement between the Saudi government and SAC. This agreement, signed on July 30, 2008, pertains to the oil concession for managing the Kingdom's share in the neutral zone shared with Kuwait.