S SA
Back to Discover Company · English

Saudi Aramco

Saudi Aramco, officially known as the Saudi Arabian Oil Company, is a state-owned petroleum and natural gas company based in Dhahran, Saudi Arabia. Established in 1933, it has grown to become one of the world's largest and most profitable companies, playing a pivotal role in the global energy industry. Saudi Aramco is renowned for its vast reserves of crude oil and natural gas, and it is a key player in the global oil market, contributing significantly to Saudi Arabia's economy.

Creation Time:2024-05-23 17 key nodes English

The Timeline

1933 — 2023

  1. 1933

    Foundation of Saudi Aramco

    Saudi Aramco was established in 1933 through an agreement between the Saudi government and Standard Oil of California (SOCAL), marking the beginning of the company's journey in the oil industry.
  2. 1938

    Discovery of Oil in Commercial Quantities

    In 1938, Saudi Aramco discovered oil in commercial quantities at the Dammam No. 7 well, also known as the "Prosperity Well," which marked the start of large-scale oil production in Saudi Arabia.
  3. 1944

    Renaming to Arabian American Oil Company

    In 1944, the company was renamed the Arabian American Oil Company (Aramco) to reflect its growing operations and partnerships in the region.
  4. 1950

    Trans-Arabian Pipeline Completion

    The Trans-Arabian Pipeline (Tapline) was completed in 1950, allowing Saudi Aramco to transport oil from the Eastern Province of Saudi Arabia to the Mediterranean Sea, enhancing its export capabilities.
  5. 1973

    Saudi Government Acquires Stake in Aramco

    In 1973, the Saudi government acquired a 25% stake in Aramco, marking the beginning of increased national control over the company.
  6. 1980

    Full Ownership by Saudi Government

    By 1980, the Saudi government had acquired full ownership of Aramco, transforming it into a state-owned enterprise and renaming it Saudi Aramco.
  7. 1988

    Saudi Aramco Established as a Corporate Entity

    Saudi Aramco was officially established as a corporate entity in 1988, further solidifying its role as a leading global oil company.
  8. 1993

    Incorporation of SAMREF and SASREF

    In 1993, Saudi Aramco incorporated the Saudi Aramco Mobil Refinery Company (SAMREF) and the Saudi Aramco Shell Refinery Company (SASREF), expanding its refining operations.
  9. 2000

    Launch of PetroRabigh

    Saudi Aramco launched the PetroRabigh joint venture with Sumitomo Chemical in 2000, focusing on refining and petrochemicals production.
  10. 2012

    Discovery of Shale Gas Reserves

    In 2012, Saudi Aramco announced the discovery of significant shale gas reserves in the Kingdom, highlighting its potential in unconventional resources.
  11. 2016

    Saudi Vision 2030 Announcement

    In 2016, Saudi Aramco played a key role in the Saudi Vision 2030 announcement, aimed at diversifying the Kingdom's economy and reducing its dependence on oil.
  12. 2017

    Acquisition of SABIC

    Saudi Aramco announced its intention to acquire a majority stake in Saudi Basic Industries Corporation (SABIC) in 2017, enhancing its petrochemical capabilities.
  13. 2019

    Initial Public Offering (IPO)

    In 2019, Saudi Aramco conducted its historic Initial Public Offering (IPO), listing on the Saudi Stock Exchange (Tadawul) and becoming the world's most valuable publicly traded company.
  14. 2020

    Acquisition of 70% Stake in SABIC

    Saudi Aramco completed the acquisition of a 70% stake in SABIC in 2020, further expanding its presence in the global petrochemical industry.
  15. 2021

    Net-Zero Emissions by 2050 Commitment

    In 2021, Saudi Aramco announced its commitment to achieving net-zero greenhouse gas emissions by 2050, aligning with global sustainability goals.
  16. 2022

    Launch of Jafurah Gas Plant

    Saudi Aramco launched the Jafurah gas plant project in 2022, aiming to develop one of the largest unconventional gas fields in the world.
  17. 2023

    Expansion of Hydrogen Production

    In 2023, Saudi Aramco announced significant investments in hydrogen production, positioning itself as a leader in the transition to cleaner energy sources.

Regeneration always requests fresh AI content and uses 1 query.

Download History Timeline

Related reading

Real Madrid History Timeline and Biographies organization · English 11 nodes

Real Madrid

Real Madrid is one of the most successful football clubs in history, known for its rich legacy and numerous titles.

11 nodes English
M MY
Other · English 13 nodes

Medicina y Biotecnología evolu

Medicina y Biotecnología evolu represents an innovative intersection of medical science and biotechnology, focusing on enhancing healthcare through advanced technologies and methodologies. The evolution of this field has profound implications for disease treatment, diagnostics, and the development of new therapies. The timeline of Medicina y Biotecnología evolu highlights critical milestones in research, commercialization, and regulatory advancements, demonstrating the rapid progress made in this dynamic sector over the years. As the industry continues to grow, it promises even greater contributions to human health and scientific understanding.

13 nodes English
A AA
organization · English 13 nodes

AAWSAP

The Advanced Aerospace Weapon System Applications Program (AAWSAP) is a U.S. government initiative aimed at investigating and understanding advanced aerospace technologies and unidentified aerial phenomena. Established in the late 2000s, AAWSAP seeks to explore potential threats posed by these phenomena and contribute to national security by leveraging scientific research and technology. The program has garnered significant attention due to its focus on unexplained aerial sightings and its implications for defense strategies.

13 nodes English