Saudi Aramco About The Company - 3890 Words

SAUDI ARAMCO About the Company Saudi Arabian Oil, also known as Saudi Aramco, is an oil gas company centered in Dhahran, Saudi Arabia. It is one of the world’s most valuable and profitable company with an estimated worth of approximately 10 trillion US dollars, as reported by the Financial Times. The company not only has the largest oil reserves (approximately 260 billion barrels), but also has the largest daily production of oil (reference). The company has become a world leader in hydrocarbon explorations, production, distribution and marketing. With headquarters in Dhahran, the company owns many oil and gas fields in Saudi Arabia including Ghawar, world’s largest oil field. Its yearly production reaches 7.9 billion barrels, 1.26x109†¦show more content†¦Saudi Aramco operates on the leading edge of science and creativity, helping to bring to life the ideas that make energy more beneficial and sustainable† Values Cherishing any successful business practices has made Saudi Aramco one of the world’s leaders in energy. At the same time it is also important to be proud of any opportunities made possible for others, through the company. There is a 4P principle the company operates on (reference),, ïÆ'Ëœ People: Respect the diversity of people as well as nourish them. Develop a committed workforce. ïÆ'Ëœ Pride: Take pride in what the company does, support excellence and commit to safety, quality and environmental standards. ïÆ'Ëœ Professionalism: Business is conducted with ethical and moral values, as well as in a responsible and accountable manner. ïÆ'Ëœ Partnership: Stakeholder interests are met through a productive and trusting relationship. Objectives Strategy is a plan of action to achieve certain goals and/or objectives. A good strategy takes into account obstacles, both seen and unseen, as well as uncertainties. It is a high level plan that becomes extremely necessary if there are limited resources at one’s disposal. Good management is sometimes defined as good execution of a good strategy. Max McKeown (2011) argues that â€Å"strategy is about shaping the future†. In other words, humans struggle to get required results with the available means. The company’s objectives and theShow MoreRelatedExploring Oil1070 Words   |  5 PagesSaudi Arabian oil company Introduction Saudi Arabian oil company is multinational company today is called Saudi Aramco. It is the largest oil corporation in the world with the largest proven crude oil reserves. The company is located in Eastern reign of Saudi Arabia. Exploration, production, refining, distribution, shipping and marketing are operates by the company. Saudi Aramco published in 1933 when the government of Saudi Arabia allowed for American company called Casco to drill about oilRead MoreIssues Plaguing Saudi Aramco Company886 Words   |  4 Pagesï » ¿Saudi Aramco Senior Leadership Background of the Company King of all oil production in the world: number one oil producer on earth. Produces 10% of all of the worlds oil. Owns 283 trillion cu. ft. of natural gas reserves (4th largest cut in the world). Operates refineries, markets oil internationally Possesses a fleet of oil tankers and invests in refineries, marketing,  and distribution  ventures in other countries, including China, Japan, South Korea, and the US ---(hoovers.com, 2013)Read MoreSaudi Aramco Essays1104 Words   |  5 PagesSaudi Aramco The largest world supplier oil company is Saudi Aramco. It is the most profitable company on the earth. Since it is the most powerful oil company, it has a great impact on the world economy. 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Saudi Aramco was established 1933 when Saudi Arabia signed a concessionRead MoreStudy of the Saudi Aramco Value Chain4842 Words   |  20 PagesStudy of the Saudi Aramco Value Chain Study of the Saudi Aramco Value Chain October 2010 Company overview: The Saudi Arabian Oil Company (Saudi Aramco) is a government-owned entity (since 1988 fully government-owned) and the world’s largest oil company in terms of output and managed natural crude oil resources. The company specializes in the exploration, production and distribution of crude oil, petrochemicals and natural gas. Saudi Aramco was established 1933 when Saudi Arabia signed a concessionRead MoreWhether Organisational Culture can be Managed3630 Words   |  15 Pagesthat are shared by people and groups in an organisation, and that control the way they interact with each other and with stakeholders outside the organisation. In their opinion, it also includes beliefs and ideas about what kind of goals members of an organisation should pursue, and ideas about the appropriate kind or standards of behaviour organisational members should use to achieve these goals. From organisational values develop organisational norms; guidelines or expectations that prescr ibe appropriate