SAUDI ARABIA - Part 4 - The Overseas Refining & Market Share Investments.
The state-owned Saudi Aramco Saudi Aramco, the state-owned national oil company of Saudi Arabia, is the largest oil corporation in the world and the world's largest in terms of proven crude oil reserves and production. has partnerships in overseas oil refining and retailing ventures with a total nameplate capacity of 1.678m b/d. Of these, refining capacities of 923,000 b/d are in the US and Greece. The other 755,000 b/d are in South Korea, the Philippines and China.
Private Saudi businessmen have built up an impressive overseas presence from the upstream end to refining and distribution. They have links to key members of the royal family, and are widening their presence overseas. Corral corral
a small fenced-in enclosure with high, wooden fences, suitable for holding cattle or horses.
a management system in which range cattle are put into corrals and fed hay for a period when the environment is most Petroleum of the Amoudi family owns Preem Petroleum of Sweden which has moved to Morocco and other markets. Nimir Petroleum of the Bin Mahfouz family has ventures in Yemen and in distant countries such as Sakhalin in Russia's Far East and Venezuela. Delta International Delta International Fraternity and Sorority is a humanitarian service founded on October 24, 1961 at the University of Santo Thomas, founded by Emmanuel Uy Guangco. , a smaller but agile company, is involved in Azerbaijan and elsewhere (see Gas Market Trends).
The state-controlled Saudi Arabian Basic Industries Corp. (SABIC SABIC Saudi Basic Industries Corporation
SABIC Sample-Band Image Coding (currency counterfeit deterrence technique) ) is negotiating to aquire EniChem in Italy so that it could become the leading olefins producer in Europe; and at home it is raising its petrochemicals production capacity from about 35m t/y to 48m t/y by 2010 (see Downstream Trends No. 18). SABIC has been discussing with Iran's state-owned National Petrochemical Company (NPC 1. (complexity) NPC - NP-complete.
2. (architecture) NPC - Next Program Counter. ) a joint petrochemicals venture in Iran. It has also been studying a proposed takeover of an existing aromatics plant in Thailand, a major buyer of SABIC fertilisers. The Saudi government says it will eventually sell much of its 70% SABIC stake to the private sector.
Saudi Aramco's International Division, created in 1991, is in charge of the company's overseas investments. It handles all matters from oil sales to transportation and storage, monitoring market developments and new investment opportunities, pursuing negotiations with potential partners and acquiring logistics in key locations.
In August 2001, Saudi Aramco launched a contracting service on its internet website. An electronic bulletin board lists contracts for which solicitation solicitation
In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of interest and prequalification is open to companies already registered as contractors with Saudi Aramco. Companies can download and submit its prequalification questionnaires.
The division has been monitoring consolidation among the majors in the petroleum industry, which began in 1996 with a European downstream merger downstream merger
A type of merger in which a parent firm is absorbed into one of its subsidiaries. of BP and Mobil. Then came the US downstream merger agreement in 1997 between Shell and Texaco for one venture called Equilon Enterprises and between Shell and Star Enterprise (50-50 Texaco and Saudi Aramco) for another venture called Motiva Enterprises Motiva Enterprises, LLC, is a 50-50 joint venture between Shell Oil Company (the American wholly owned subsidiary of Royal Dutch Shell) and Saudi Refining (a wholly owned subsidiary of Aramco Services Company, which itself is a wholly owned subsidiary of Saudi Aramco). . The trend accelerated in 1998 when BP took over Amoco and then Arco.
Later Exxon acquired Mobil. For Chevron to take over of Texaco in October 2001, it was required by the Federal Trade Commission (FTC FTC
See Federal Trade Commission (FTC). ) to shed some of Texaco's assets in the US. Saudi Aramco bought the latter's 17.2 stake in Motiva, thus raising its equity in this to 50%. Shell bought Texaco's remaining equity in Motiva and raised its stake in it from 32.8% to 50%.