Annual Report 2020 Saudi Aramco Annual Report 2020
Resilience and agilityAnnualReportAnnual2020 Report 2020SaudiAramco
Resilience and agilityAramco’s exceptional past belongs to its future.Our people define our success.Energy has been running in our DNA for generations.We are proud of what we accomplished during 2020.Once again, our resilience shone through.We delivered on our shareholder commitments.And we continued to deliver an uninterrupted supplyof energy to the world.Our resilience and agility has built one of the world’slargest integrated energy and chemicals companies.And we are part of the global effort toward buildinga low carbon economy.Our horizon has never been clearer.This Annual Report covers financial and operational aspects of Aramco from January 1, 2020 to December 31, 2020, andis issued in both Arabic and English. The print version is identical to its PDF counterpart, which is available at aramco.com.The Arabic version prevails in the event of any discrepancy. The images in this document are representative of the servicesprovided by Aramco. Some photos may have been taken prior to the COVID-19 pandemic. Wherever possible, sustainableprinting techniques were used.
011Contents234AramcoChairman’s message. 06President and CEO’s foreword. 08History. 102020 highlights. 12Aramco’s operations. 14Business model. 18Business overviewand strategyBusiness overview. 24Market overview. 28Strategy. 29Results and performanceKey 2020 metrics. 36CFO’s message. 38Financial performance. 40Upstream. 48Downstream. 58567Corporate. 68Environmental, socialand governanceOur approach to sustainability. 72Corporate oversight. 73Climate change. 74Minimizing environmental impact. 78Accelerating human potential. 82Growing societal value. 868RiskRisk management. 92Risk factors. 94Corporate governanceBoard of Directors. 108Senior Executives.112Board structure. 116Audit Committee report. 120Risk and HSE Committee report. 122Nomination Committee statement. 123Compensation Committee statement. 124Compensation and other interests. 125Governance, risk and compliance. 129Additional financialand legal informationAdditional financial information. 134Reserves information. 141Regulation of the oil and gas industryin the Kingdom. 142Additional legal information. 147Forecasts and forward-lookingstatements. 160Terms and abbreviations. 161Glossary. 163Consolidated financialstatementsIndependent auditor’s report. 168Consolidated statement of income. 176Consolidated statementof comprehensive income. 177Consolidated balance sheet. 178Consolidated statementof changes in equity. 179Consolidated statement of cash flows. 180The information contained in Sections 1 – 7 of this AnnualReport constitutes our Board of Directors’ report.Notes to the consolidatedfinancial statements. 181
King Salman bin Abdulaziz Al-SaudThe Custodian of the Two Holy Mosques
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-SaudCrown Prince, Deputy Prime Minister and Minister of Defense of the Kingdom of Saudi Arabia
041AramcoChairman’s message. 06President and CEO’s foreword. 08History. 102020 highlights. 12Aramco’s operations. 14Business model. 18Khurais oil facilityAramco, throughout its facilities sincethe 1980s, has used renewable energyto produce oil and gas, and to reservehydrocarbon resources for bettereconomic use.
Saudi Aramco Annual Report 2020 Aramco05
06Chairman’s messageWe remain focused on sustaining the strength,scale, and efficiency of our operations andensuring the continuity of a vital and reliableenergy supply to our customers around the worldDear Shareholders,In a time of unprecedented globaleconomic uncertainty due to theCOVID-19 pandemic, Aramco displayedexceptional resilience by continuing todeliver value to our shareholdersthroughout 2020.The events of 2020 servedto shine a spotlight onAramco’s ability to deliveron its commitments acrossboth economic and oilprice cycles.”Despite the volatile and weaker marketenvironment, Aramco once againreported solid earnings and cash flows forthe full year while demonstrating ongoingoperational agility. The Company alsomaintained a robust balance sheetthrough a highly disciplined approachto capital allocation.In fulfilling previously stated intentions,we delivered SAR 281 billion ( 75 billion)in dividends for the year by declaringfour quarterly dividends of approximatelySAR 70 billion ( 18.75 billion). As a result,we believe we will pay out the largesttotal annual dividend of any publiclylisted company anywhere in the worldfor 2020.Advancing our businessAlthough markets tend to think inquarters, we continue to think in decades.We remain focused on sustaining thestrength, scale, and efficiency of ouroperations and ensuring the continuityof a vital and reliable energy supply toour customers around the world. Whileworking to mitigate the immediateimpacts of the COVID-19 pandemic onour operations, we are not allowing thisshort-term disruption to distract usfrom our longer-term goals.In this respect, Aramco took a major stepin 2020 by completing its largest everacquisition with the 69.1 billion purchaseof a 70% stake in Saudi Basic IndustriesCorporation (SABIC). As the integrationcontinues, SABIC offers a complementarypresence in terms of geography, projects,and partners, enhancing Aramco’sposition in the petrochemical sector.2020 saw significant achievements in ourgas business as we continued to expandour production and processing capacities.In addition, the issuance in Novemberof our Senior Unsecured Notes — whichranged from 3 to 50 years in maturity —was a further reflection of investorconfidence in Aramco’s future story.Looking ahead, our focus is on more thanjust generating ongoing value for ourshareholders — it is also on our abilityto continue creating value for society.Against this backdrop, we recognize thatenvironmental, social and governance(ESG) factors are a rising priority forinvestors today, including for manyof our shareholders.It is worth noting, however, that longbefore the term ‘ESG’ was first coinedin the investment community, manyof these considerations were alreadyan integral part of Aramco’s approachto business. Indeed, our Company hasa legacy of safety and corporateresponsibility that we continue to buildupon. For example, in the area ofenvironmental stewardship, Aramcohas long used advanced technologiesand field methodologies to produce oil,
Saudi Aramco Annual Report 2020 Aramco07Aramco recognizes that environmental, social and governance(ESG) factors are a rising priority for investors today.helping us achieve one of the lowestupstream carbon intensities of anyinternational oil company. We alsobelieve that oil and gas, supported bytechnological innovations, will prove tobe essential in achieving an orderly globalenergy transition. And we will continueto seek ways to leverage innovation tofurther reduce our emissions.Maintaining strong governanceExpressing our appreciationOur first full year as a publicly listedcompany led to a number of historicmilestones in 2020, including ourinaugural post-IPO Ordinary GeneralAssembly Meeting, our first post-IPOearnings call with the investor community,and the first public issuance of our annualreport and quarterly interim reports.We also recognize that for the world toachieve net-zero carbon emissions by themiddle of the century and reach the goalsof the Paris Agreement, collective actionis required from all industries andgovernments. It was therefore particularlyencouraging that the G20 leadersendorsed the Kingdom’s strategy tocombat climate change globally throughthe development of a circular carboneconomy. Aramco will play a significantrole in advancing this holistic andpragmatic approach, which focuses on a4R framework of reducing, reusing, andrecycling carbon products, as well asremoving harmful emissions from the air.During 2020, we also welcomed one newBoard member, Mark Weinberger, formerEY Global Chairman and CEO. Mark isnow serving as an independent director,replacing Andrew Gould, who steppeddown from the Board after more thansix years of service. We thank Andrewfor his many contributions, during whatwas a historic period for our Company.On behalf of the entire Board, I wouldlike to take this opportunity to thankall the men and women of Aramcofor their extraordinary contributionsduring the past year amidst a verychallenging environment. I also wantto express our gratitude to ourshareholders as well as our customers,partners, suppliers, contractors, andthe communities where we operate,for supporting Aramco.During 2020, we also continued toexpand on the name recognition andbrand equity of Aramco through majorsports partnerships. This included signinga long-term global sponsorship withFormula 1 , connecting the Companywith a worldwide audience of hundredsof millions of racing fans.Beyond the guidance provided by theBoard, Aramco’s success would not bepossible without the ongoing support ofThe Custodian of The Two Holy MosquesKing Salman bin Abdulaziz Al-Saud, andHis Royal Highness Prince Mohammedbin Salman bin Abdulaziz Al-Saud,Crown Prince, Deputy Prime Ministerand Minister of Defense of the Kingdomof Saudi Arabia. We would also like toextend our appreciation to the Ministry ofEnergy of the Kingdom of Saudi Arabiafor their continuous support.The events of 2020 served to shinea spotlight on Aramco’s ability todeliver on its commitments across botheconomic and oil price cycles. Goingforward, we will continue to leverageall of our considerable strengths tocreate value for you, our shareholders,and for society as a whole.H.E. Yasir O. Al-RumayyanChairman of the Board of Directors
08President andCEO’s forewordWe are proud to be making a meaningfuldifference by supplying vital energy to the worldtoday, while working at the speed of science indeveloping cleaner energy solutions for tomorrowDear Shareholders,In 2020, no industry or company wasimmune to the impacts of the COVID-19pandemic — including ours.Throughout its 87-yearhistory, our Company hasovercome many challengesand we remain confidentwe will emerge on the otherside of this pandemic ina position of strength.”Aramco, for its part, demonstratedconsiderable financial and widespreadoperational agility during the mostvolatile year the world has seen ingenerations. With the majority of ouremployees working in field locations, weproactively put in place comprehensiveprotective measures to safeguard theirsafety and well-being, while maintainingour operational integrity and reliability.With COVID-19 making daily work andlife more complex, we benefited fromhaving previously adopted advancedtechnology and building a robust ITinfrastructure — all of which allowedus to adjust quickly and enabled ouremployees who could work remotely,to do so.As part of the battle against COVID-19,we provided support for Saudi Arabia’shealthcare sector, including donatingventilators and other medical equipmentand supplies. Our affiliates in Asia,Europe, and North America also engagedin similar initiatives.Maintaining financial resilienceDespite the economic fallout of thepandemic, we declared a dividendof SAR 281 billion ( 75 billion) to ourshareholders for the year.Throughout 2020, we demonstrated theagility of our financial framework throughour spending and efficiency programs,which resulted in billions of dollars ofsavings in both our capital andoperational spend. We retain additionalflexibility to further adjust expenditures.The issuance of our 8 billion of SeniorUnsecured Notes in the fourth quartersaw exceptionally strong investor interestglobally, attracting more than 150 newinvestors and achieving record levelsof demand for a new 50-year tranche —all of which we believe reflects confidencein our Company’s resilience. Indeed, weexpect long-term energy demand toincrease, with oil and gas remaining animportant part of the global energy mix.Demonstrating operationalflexibilityDuring what can only be described asan exceptional year for the entire world,our upstream business demonstrated itsunique flexibility by rapidly adjustingproduction levels as required. In April,we achieved the highest single day crudeoil production in our history: 12.1 mmbpd.In August, we achieved anothermilestone, producing a single day recordof 10.7 bscfd of natural gas from ourconventional and unconventional fields.Meanwhile, our Fadhili Gas Plant reachedits design processing capacity of 2.5 bscfdand we also resumed operations in theoffshore partitioned territory betweenthe Kingdom and the State of Kuwait.We operate one of the world’s largestrefining businesses, with our downstreamoperations consuming 39% of our crudeoil production in 2020. Our ambition toexpand further downstream also madea significant leap forward with Aramco’sacquisition of a majority stake in SABIC.The completion of this historic transactionin June transformed our Company into amajor global petrochemicals player, withoperations in more than 50 countries.
Despite COVID-19 bringing the worldto a standstill, Aramco kept going.Creating additional valueIn 2020, we added to the Kingdom’s oiland gas reserves with the discovery ofseven new fields and one new reservoir.During the year, we also maderefinements to our business that furthersupport our vision. This included theestablishment of a new corporatedevelopment unit to further optimize ourportfolio and existing assets, while alsoidentifying new opportunities for growththrough markets and technologies.Operationally, our iktva program todevelop the local supply network andlower our procurement costs continuedto prove beneficial, with the pandemicreinforcing the importance of havinga robust supply chain.In November, we announced newagreements with companies throughour Industrial Investment Program,which is designed to further supportexpansion of the local businessecosystem. And in December, we alsosigned agreements with Google andCognite that will help accelerate digitaldevelopment within the Kingdom.Delivering more energywith lower emissionsWhile COVID-19 was certainly the biggesttest of the past year, reducing emissionsto address climate change remains thebiggest single challenge of this century.Given the fact that oil and gas will berequired as sources of energy for manydecades to come, all roads to net zerorun through our industry.The Company already has one of thelowest upstream carbon footprints inthe industry, achieving an upstreamcarbon intensity of 10.5 kg of CO2 perbarrel of oil equivalent produced in 2020.It should be noted that our low upstreamcarbon intensity levels are not just ageological perk, but also the result of ourdecades-long reservoir management andproduction approach both below andabove the ground that includes leveragingadvanced technologies and minimizingemissions and flaring.Although we believe our low carbonenergy production will provide us witha competitive edge, we recognize thatwe must do much more to reduce ouremissions. This includes investing incarbon capture, utilization, and storagetechnologies, which — as the namesuggests — prevent more emissionsentering the atmosphere. We are alsoworking on technologies that can turnCO2 into useful products or captureCO2 in cement. And we are pursuingnon-combustible alternative uses forhydrocarbons, including nonmetallicconstruction materials and directcrude to chemicals technologies.Another promising area is the conversionof hydrocarbons to hydrogen and thento ammonia, while capturing the CO2created during the process. In August,we exported the world’s first shipmentof high-grade blue ammonia to Japanfor use in zero carbon power generation,reinforcing another potential role thathydrocarbons could play in a circularcarbon economy.As the result of our continued investmentin innovation, we were granted acompany record of 683 U.S. patents in2020, an accomplishment that placesus among the leaders in our industry.We believe that technology andinnovation are key to delivering moreenergy more efficiently in the future.We are pleased that our progress inthis area was once again acknowledgedlast year, with the Khurais oil facilitybecoming the second Aramco plantto be recognized by the WorldEconomic Forum for the adoptionof cutting-edge technologies.Emerging even strongerThroughout its 87-year history, ourCompany has overcome many challengesand we remain confident we will emergeon the other side of this pandemic ina position of strength. We believeAramco’s unique scale combined withour low-cost structure and low upstreamcarbon intensity is unparalleled.I remain very proud of all my colleagueswho ensured reliable, safe, and normaloperations even in these most abnormalof times. Collectively, we are proud tobe making a meaningful difference bysupplying vital energy to the world today,while working at the speed of sciencein developing cleaner energy solutionsfor tomorrow.Amin H. NasserPresident and Chief Executive OfficerSaudi Aramco Annual Report 2020 Aramco09
10HistoryOur history dates back more than85 years, when a small group of intrepidadventurers set out to explore thedeserts of Saudi Arabia1933-1944The birth of Arabian oil1933Oil concession agreement signedwith Standard Oil of Californiawhich creates the CaliforniaArabian Standard Oil Company(CASOC) to manage the concession1945-1965Expansion1948Standard Oil Company of NewJersey, later Exxon, purchases 30%of Aramco, and Socony-VacuumOil Company, later Mobil,purchases 10% to help providemarket outletsOil discovered at DammamWell No. 71949Oil production hits 500 mbpd1939Oil exports begin19521944CASOC renamed the ArabianAmerican Oil Company (Aramco)Aramco headquarters movesfrom New York City to Dhahran1958Oil production exceeds1 mmbpd1965Oil production exceeds2 mmbpd19381966-1988Making a namefor ourselves1971Oil production averages4.5 mmbpd1973The Saudi Government acquires aninitial 25% participating interest inthe concession, which increases to60% the following year1975Decision made to build the MasterGas System, enabling one of theworld's largest gas markets andtransforming the national energymix toward clean fuel1976Aramco becomes the world’sleading oil producer in terms ofvolume produced in a single year1980Saudi Government increases itsparticipation interest in Aramco’scrude oil concession rights,production and facilities to 100%1988Saudi Aramco (Aramco) officiallyestablished
Saudi Aramco Annual Report 2020 Aramco111989-2014A global company2015-2019Transformation1989First international downstreamjoint venture, in U.S.2017Aramco acquires full ownershipof Motiva1991First downstream venture in Asia,in South Korea2018Aramco becomes a jointstock company1993Aramco assumes the assets andoperations of Saudi ArabianMarketing and Refining Company,a Government-owned in-Kingdomrefining and international productmarketing organization2009Petro Rabigh, Aramco’s firstpetrochemical plant, beginsproduction2011Sadara Chemical Company formed2014SATORP and YASREF refineriescome onlineAramco commences commercialproduction of unconventionalresources in North ArabiaAramco acquires full ownershipof ARLANXEO2019Aramco becomes a public companywith shares listed on TadawulAramco issues 12.0 billionof Senior Unsecured Notes, listedon the London Stock Exchange2020Resilience2020Aramco achieves a historic highestsingle day crude oil productionof 12.1 mmbpd and highest singleday natural gas production of10.7 bscfdAramco completes its historicacquisition of a 70% stake in SABICAramco issues 8.0 billion of SeniorUnsecured Notes, listed on theLondon Stock Exchange
122020highlightsDuring what can only bedescribed as an exceptionalyear for the entire world,we have neverthelessmade significant stridestoward achieving ourstrategic objectivesJanuaryMarchRecord IPOF1 sponsorshipAramco reports the exercise ofoverallotment of shares option,raising the size of its initial publicoffering (IPO) to a record 29.4 billionAramco agrees a long-term globalsponsorship with Formula 1 IPTC conference hostedAramco hosts the International PetroleumTechnology Conference (IPTC), asignificant international oil and gasconference, held for the first timein Saudi ArabiaDedicated COVID-19team establishedTo combat COVID-19, Aramco establishesa dedicated team to ensure the safetyand well-being of the company’semployees, contractors and communities,and to maintain business continuityCorporate reportingAramco issues its first Annual Reportas a publicly listed companyFebruaryAprilGas field development approvedHistoric crude productionAramco receives regulatory approvalfor the development of the Jafurahunconventional gas field, the largestnon-associated gas field in the Kingdomto dateAramco achieves a historic highest singleday crude oil production of 12.1 mmbpdon April 2Operations resumeAramco, through its wholly ownedsubsidiary Aramco Gulf OperationsCompany Ltd. (AGOC), resumesoperations at Al-Khafji JointOperations (KJO)iCCUS conference sponsoredAramco sponsors the first InternationalCarbon Capture, Utilization and Storage(iCCUS) conference, discussing solutionsfor reducing greenhouse gas emissionsfrom the energy sector
MayAugustSeptemberAramco AGMHistoric natural gas productionachievedWEF recognition at KhuraisAramco holds its first annual generalassembly meeting as a publiclylisted companyAramco achieves a historic highest singleday natural gas production of 10.7 bscfdon August 6, from both conventional andunconventional fields TheWorld Economic Forum (WEF)recognizes Aramco’s Khurais oil facilityas a leader in the adoption andintegration of cutting-edge technologiesof the Fourth Industrial Revolution (4IR)Blue ammoniaAramco and the Institute of EnergyEconomics, Japan (IEEJ), in partnershipwith SABIC, completes the world’s firstshipment of high-grade blue ammoniaJuneNovemberListing of Senior Unsecured NotesSABIC acquisitionAramco completes its historic 69.1 billion acquisition ofa 70% stake in SABIC,transforming Aramco intoone of the major globalpetrochemicals playersFadhili Gas Plant capacityThe Fadhili Gas Plant reaches itsdesign processing capacity of 2.5 bscfdafter successfully completing itscommissioning activitiesAramco issues 8.0 billion of SeniorUnsecured Notes, listed on the LondonStock ExchangeSaudi Aramco Annual Report 2020 Aramco13
14EuropeAramco’s operationsWe are one of the world’s largest integrated energyand chemicals companies. Our operations includean integrated global downstream networkAustriaAzerbaijanBelgiumCzech United KingdomAmericasArgentinaBrazilCanadaMexicoUnited States of AmericaCountries of operationAramco headquartersSubsidiary* officesCrude oil and natural gas production facilitiesRefining, petrochemical and manufacturing facilitiesTerminals and distribution hubsAramco retail fuels networkTechnology and innovation centers*Subsidiaries are separate legal entities from the Company.
15Jubail Ras TanuraJu’aymahDhahranDubaRiyadhRabighThuwalSaudi Aramco Annual Report 2020 AramcoYanbu ’Saudi apanMalaysiaNepalPakistanPhilippinesSingaporeSouth KoreaSri LankaTaiwanThailandMiddle East and outh AfricaTunisiaUnited Arab EmiratesVietnam
16Who we areAramco’s vision is to be the world’spreeminent integrated energyand chemicals company, operating ina safe, sustainable and reliable mannerOur valuesExcellenceIntegrityAt Aramco, excellence translates intoall aspects of our workplace. It is ourpersonal and group commitmentto doing what we do well. We drivefor best results and are agile inaddressing new challenges.The integrity of business at Aramcois based on the ethical standards of ouremployees in our everyday operations.Integrity is a precious asset, it is ourreputation. The foundation of corporateintegrity is personal integrity.SafetyAccountabilitySafety is an integral part of Aramco’sculture. We are committed to providinga safe and respectful workingenvironment for all with the appropriatesafety procedures and policies in placeon-site and within the community.Accountability means all employeesat Aramco take responsibility for theiractions in meeting corporate objectives.Accountability for achieving Aramco’soverarching business objectives startswith the goals and objectives outlinedby the President and CEO for its businesslines, and pervades through Aramco.CitizenshipNo matter where in the world we areconducting business, it is important tobe known as a good corporate citizenand to be a positive influence withincommunities. As a global company inSaudi Arabia, we take this role seriously.See more at nce/living-our-values
Our missionAramco strives to provide itsshareholders with resilient valuecreation through crude oil pricecycles by maintaining itspreeminence in oil and gasproduction, capturing additionalvalue across the hydrocarbonvalue chain and profitablygrowing its portfolio.December 11, 2020 marked the first anniversary of Aramco’s official listing on the Saudi Stock Exchange (Tadawul).Saudi Aramco Annual Report 2020 Aramco17
18Business modelHow Aramco adds value across the production lifecycleExplore and produceAramco manages the Kingdom’sunique hydrocarbon reserves base,optimizing production andmaximizing long-term value.255.212.0Maximum Sustainable Capacity (MSC)(mmbpd)Total hydrocarbon production198.8(mmboed)(mmbpd)Total hydrocarbon reserves(billion boe)12.4Total crude oil and condensate reserves(billion barrels)Refine and manufactureAramco operates a strategicallyintegrated global downstream business.Our downstream activities consistprimarily of refining and petrochemicalmanufacturing. Other activities includebase oils, lubricants and powergeneration.9.2Total crude oil production110.5UnderpinnedUnderpinnedby ourbyenvironmental,our environmental,5.95Upstream carbon intensityFlaring intensity3(kg of CO2e/boe)(scf/boe)
Distribute6.4Gross refining capacity(mmbpd)53.1Net chemicals production capacity(million tonnes per year)Aramco delivers upstream productionto a high-quality external customerbase and a dedicated downstreamsystem. Aramco also provideshigh-value products to the Kingdomand internationally in large andhigh-growth markets, throughits supply and trading, distributionand retail operations.99.9Reliability2(%)6.7Crude exports(mmbpd)4.7Total traded volumes(mmbpd)social and governance framework0.011Lost Time Injury Rate2 (LTI)(per 200,000 man-hours)683Granted U.S. patents41. Includes AGOC’s oil production, blended condensate and excludes theKingdom of Bahrain’s entitlement to volumes produced from the AbuSa’fah field.2. The Company.3. Wholly owned in-Kingdom assets, SASREF, Motiva and ARLANXEO.4. The Company and its subsidiaries ARLANXEO and Motiva.Saudi Aramco Annual Report 2020 Aramco19
20How we create valueAramco’s conventional proved reserves andcrude oil production are unrivalled. Throughthe utilization of a skilled workforce operatingin a safe and reliable manner and leveragingtechnology, Aramco sustains its low-cost andlow carbon intensity crude oil productionManifa, Arabian GulfWhat we doUpstreamDownstreamAramco is the world’s largest producer of crudeoil and condensate. We manage the Kingdom’sunique reserves and resource base to optimizeproduction and maximize long-term value.Aramco has a large and strategically integratedglobal downstream business. Our Downstreamsegment activities consist primarily of refiningand petrochemical manufacturing, supply andtrading, distribution and power generation.See page 48 for more details.Upstream and DownstreamintegrationSee page 58 for more details.The strategic integration of our Upstream andDownstream segments enables us to secure crude oildemand by selling to a dedicated system of domesticand international wholly owned and affiliated refineries.
Saudi Aramco Annual Report 2020 Aramco21Yanbu' refinery, Madinah ProvinceCreating shareholder valueNet income184EBIT*(billion)(billion)SAR380Free cash flow*(billion)SARSARDividends paid261Earnings per share(basic and diluted)(%)SAR0.93Gearing*(billion)SAR13.2Upstream capitalexpenditures15.0Upstream lifting cost 49 70ROACE*(%)* 101 0.25 4923.0 4.0Non-IFRS measur
Saudi Aramco Annual Report 2020 This Annual Report covers financial and operational aspects of Aramco from January 1, 2020 to Dec
Saudi Aramco: Company General Use Saudi Aramco’s Digital Transformation Program A Forward Looking Innovation Hub Saudi Aramco Digital Vision In 2022, Saudi Aramco is the world’s leading digitalized energy corporation, maximizing shareholder value and spearheading digital innovation in
May 19, 2014 · Aramco, Dhahran. 3 References 3.1 Saudi Aramco References Saudi Aramco Engineering Procedure SAEP-302 Instructions for Obtaining a Waiver of a Mandatory Saudi Aramco Engineering Requirement. 3.2 Industry Codes and Standards American National Standards Instit
British Standard Institution Dated August 5, 1998. . Saudi Aramco -Dammam . Saudi Aramco . Saudi Construction Saudi Aramco - Haradh Plant - Haradh Saudi Aramco . Al Huda Engineering . Doha Tower - Qatar . ABV Rock Grou
treatment system that complies with Saudi Aramco Engineering Standards for Wastewater Treatment, Reuse and Disposal. Saudi Aramco: Public Source: Saudi Aramco Internal Analysis 37 Opportunity 5. Wastewater Treatment Opportu
Saudi Aramco KSA Unless otherwise justifiable, supplier development costs assigned to the Saudi Aramco portion can be calculated on a pro-rata basis using Saudi Aramco revenue/KSA revenue as the ratio applied to total KSA salaries and wages. If utilizing an alternative methodol
contents Saudi Aramco 06 Chairman's message 08 President and CEO's foreword 10 History 12 2019 highlights 14 Saudi Aramco's operations 18 Business model Business overview and strategy 24 Business overview 28 Market overview 29 Strategy Results and performance 38 CFO's message 39 Financial performance 46 Upstream 54 Downstream 62 Corporate Environmental, social and governance (ESG)
Saudi Arabian Oil Company, Terminal Pilotage Operations Division Room N-2006, Ras Tanura 31311 Kingdom Of Saudi Arabia Tel (966)-13-678-6016, Fax: (966)-13-673-1669 In order to continually improve and enhance the services we provide, Saudi Aramco reques
PGT Commerce HOD Commerce Professor, Department of Commercial Senior East Point School KMPG, Badalpur Social Sciences & Humanities Secondary School, Delhi NCERT, New Delhi 16 Daryaganj, New Delhi Dr. Piyush Prasad Dr. Neha Agarwal Sh. Sanjeev Kumar Smt. Alka Rani Dr. Amit Agarwal Academic Officer Financial Expert V ice Principal PGT, Commerce Lecturer (Accountancy) GAIL Town Ship Govt. Co-edu .
