Saudi Arabian Oil Co - Company Profile

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Saudi Arabian Oil Co: Segment Analysis

Business Description

Saudi Arabian Oil Co (Saudi Aramco) is an integrated oil company, which carries out the exploration, production, and refining of crude oil, natural gas and petrochemicals.

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R&D Overview

Saudi Aramco’s R&D focuses on harnessing new technologies to achieve its recovery, discovery, diversification and sustainability objectives. It manages a global network of 12 research and technology centers, including three in-kingdom research centers and nine satellite centers and technology offices. In FY2022, it spent SAR4,419.0 million on R&D, which as a percentage of revenue, stood at 0.2% and grew 14.1% YoY. In FY2022, the company was granted 966 patents in the US.

Business Segments

Overview

Includes refining and petrochemical manufacturing and supply, power generation, trading and marketing operations. Its other activities include base oils, lubricants and retail operations. Its distribution network includes pipelines, bulk plants, air refueling sites and terminals, which deliver crude oil, NGL, natural gas and refined products. Its refined products include diesel, gasoline, jet fuel/fuel oil, naphtha, LPG, asphalt, lubricants and chemicals. Its petrochemical products include olefins, MTBE, aromatics, glycols, methanol, polyethylene, polypropylene, polyethylene terephthalate, linear alpha olefins, polyvinyl chloride, polycarbonate polyethylene, polystyrene, ethylene oxide, butyl glycol, amines, propylene oxide, propylene glycol, polyols, isocyanates, synthetic rubber and elastomers. Its domestic affiliated refineries include SATORP, YASREF, SAMREF, SASREF and Petro Rabigh. International refining operations include Motiva (Port Arthur Refinery) in the US; S-Oil in South Korea, FREP in China and PRefChem in Malaysia. Its downstream facilities, Luberef, Motiva and S-Oil, are the major producers of Group I, Group II and Group III base oils. Holds 100% interest in Motiva Chemicals. Motiva Chemicals assets include a chemical plant in Port Arthur, Texas, which includes a mixed feed cracker, a cyclohexane unit, a benzene unit, NGL and ethylene pipelines and storage facilities. The power business includes captive power plants and associated transmission and distribution facilities in the Kingdom. It owns a 6.9% stake in the Saudi Electricity Company and an effective 29.8% stake in Marafiq. In FY2022, the segment’s capital expenditure stood at SAR29,541.0 million, which increased 2.8% YoY.

Performance

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Overview

Explores for, develops and produces crude oil, condensate, natural gas and NGLs. It has operations in the Central and Eastern Provinces of the Kingdom. It produces five grades of Arabian crude oil, namely, Arabian Super Light, Arabian Extra Light, Arabian Light, Arabian Medium and Arabian Heavy. Operates Berri, Shedgum, Uthmaniyah, Hawiyah, Haradh, Khursaniyah, Wasit, Fadhili, North Arabia and Midyan gas processing plants. In FY2022, the segment’s capital expenditure stood at SAR109,789.0 million, which increased 23.7% YoY.

Performance

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Overview

The corporate activities include support services such as human resources, finance and IT.

Performance

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Geographical Segments

Performance

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Performance

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