In 2024, Saudi Aramco produced 12.7 million barrels of oil equivalent per day. The company holds both the world's largest proven crude oil reserves, at more than 270 billion barrels, and the largest daily oil production of all oil-producing companies.
When did Saudi Aramco complete its IPO and how much did it raise?
Saudi Aramco priced its IPO on the 4th of December 2019 at 32 Saudi riyals per share and began trading on the Tadawul exchange on the 11th of December 2019. The offering raised US$25.6 billion, making it the largest IPO in history at the time, surpassing the Alibaba Group's 2014 listing.
Who discovered oil in Saudi Arabia for the first time and when?
The California-Arabian Standard Oil Company, a subsidiary of Standard Oil of California and Texaco, made the first commercial oil discovery in Saudi Arabia in 1938 at a well called Dammam No. 7 in Dhahran. The well immediately produced more than 1,500 barrels per day after four years of fruitless earlier exploration.
What was the Shamoon cyberattack on Saudi Aramco?
On the 15th of August 2012, the Shamoon virus struck Saudi Aramco's computer systems, with a group calling itself the Cutting Sword of Justice claiming responsibility for hitting 30,000 workstations. The attack forced Aramco to spend months restoring services. Security researcher Richard Clarke suggested it was part of Iranian retaliation for American involvement in Stuxnet.
What is Saudi Aramco's carbon footprint and what emissions target has it set?
In 2024, Saudi Aramco was responsible for 1,653 megatons of CO2, or 4.28% of global CO2 emissions, more than any other single entity. Since beginning operations, the company has emitted 59.26 billion tonnes of CO2 equivalent. The Saudi government has stated a goal of net-zero carbon emissions within the country by 2060.
What is the Saudization policy at Saudi Aramco and when did it begin?
Saudization at Aramco began with Article 23 of the original concession agreement, which required the company to employ Saudi nationals as far as practicable. The first training school opened in May 1940 in Al-Khobar. By 1987, nearly two-thirds of Aramco's 43,500-person workforce were Saudis, and Ali Al-Naimi became the first Saudi president of Aramco in November 1983.