What is Aramco downstream?
What is Aramco downstream?
The Company’s Downstream strategy focuses on creating growth opportunities across the hydrocarbon chain in order to expand the Company’s sources of earnings, providing resilience to oil price volatility and capitalizing on rising demand for petrochemical products.
What does Aramco logo mean?
The top part is blue and symbolizes the sky. The lower part is green and symbolizes the earth. The star, in its turn, apparently stands for oil deposits or oil rigs. Its white color and rays evoke the energy and light spread over the globe with the local oil.
What is the strategy of Aramco?
Saudi Aramco will develop a stronger downstream business, double refining capacity, expanding into chemicals, do more with renewables, create new technologies through its R&D efforts, and develop new business lines through investments and acquisitions.
What is Aramco upstream?
Our Upstream Group collaborates with the EXPEC Advanced Research Center, Saudi Aramco’s award-winning upstream R&D center in Dhahran, Saudi Arabia, and is a key player in the scientific and engineering organizations that drive the upstream O&G industry. Aramco Geologists survey a map during an AAPG field trip in Utah.
What are downstream companies?
Companies in the downstream sector are those that provide the closest link to everyday users. After crude oil is discovered and extracted—the upstream process—it’s shipped and transported—the midstream process. Thereafter, the oil is refined, marketed, distributed, and sold, which is the downstream process.
What is downstream and upstream?
Stream – The moving water in a river is called a stream. Upstream – If the boat is flowing in the opposite direction to the stream, it is called upstream. In this case, the net speed of the boat is called the upstream speed. Downstream – If the boat is flowing along the direction of the stream, it is called downstream.
What is the Petronas logo?
The original PETRONAS logo was developed in 1974 when PETRONAS was first incorporated. The basic structure comprises an oil drop feature and symbol “P” that conveys its core business in oil and gas, and dynamism of the company.
What makes Saudi Aramco unique?
Saudi Aramco has both the world’s second-largest proven crude oil reserves, at more than 270 billion barrels (43 billion cubic metres), and largest daily oil production of all oil-producing companies. It is the single greatest contributor to global carbon emissions of any company in the world since 1965.
How deep are the oil wells in Saudi Arabia?
The Manifa Drilling Team set a new record in December when it finished drilling the longest well in Saudi Arabia to a total depth of 32,136 ft (± 9.8 km) and completed a horizontal power water injector across the Lower Ratawi reservoir.
What does Saudi Aramco sell?
Saudi Aramco is the world’s largest oil producer. Officially known as Saudi Arabian Oil Company, the company is primarily state-owned and is based in Dhahran, Saudi Arabia. It is the world’s most profitable company, eclipsing even tech giants such as Apple (AAPL) and Alphabet’s Google (GOOGL).