Aramco, a Saudi Arabian based enterprise is by a considerable margin, the most valuable company in the world. Owned by the national government, this colossus of a company is
estimated to be worth more than a mouthwatering $2 trillion. Operating with over 1/5 of the world’s supply of petroleum reserves, there is not a company on planet earth that can
even begin to compete.
Here are just 3 facts that demonstrate the magnitude of Aramco:
• Crude oil and condensate reserves (billions of barrels): 261.1
• Gas reserves (associated and nonassociated) (trillions of standard cubic feet): 297.6
• Crude oil production (annual/billions of barrels): 3.7; (daily/millions of barrels): 10.2
Regardless of the value of this company, they also contribute an enormous amount to their local and national economy:
• Value of material procurement spending awarded to local manufacturers: $2.1 billion
• Value of contract procurement awarded to local market: $26 billion
• Percentage of material procurement spending awarded to local manufacturers: 37%
• Percentage of contract procurement awarded to local market: 80%
• Employees – 65’000
However, what is most striking about the recent revelations of Aramco is that the government is for the first time in their tenure looking to sell a percentage to a private investor.
The state-owned organization is going to sell off 5% of the company in a bid to start venturing down other economic routes, considering the future is not going to be an oil
dependent world… the polar opposite in fact. Just 5% of the company is worth $100 billion, so you can fully expect a financial war to come when the government chooses to sell,
which is aimed to be before 2017.
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