Saudi Aramco : About The Company

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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),,  People: Respect the diversity of people as well as nourish them. Develop a committed workforce.  Pride: Take pride in what the company does, support excellence and commit to safety, quality and environmental standards.  Professionalism: Business is conducted with ethical and moral values, as well as in a responsible and accountable manner.  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 “strategy is about shaping the future”. In other words, humans struggle to get required results with the available means. The company’s objectives and the

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