Saudi Arabian Oil Company

The Saudi Arabian Oil Company (Saudi Aramco)Saudi Arabian Oil Company (Saudi Aramco) is a holding company involved in the exploration, drilling and production of crude oil and natural gas; the oil and gas field services, transportation, refining and processing of oil products.

The conglomerate established the Sadara Chemical CompanySadara Chemical Company, a SAR75 billion (USD20 billion) subsidiary with the Dow Chemical CompanyDow Chemical Company. It would manufacture 3 million tons of petrochemicals per year, once completed along with its complex of 23 plants, in 2015.

Through the Saudi Aramco Total Refining and Petrochemical Company (SATORP)Saudi Aramco Total Refining and Petrochemical Company (SATORP), the conglomerate is building a SAR52.5 billion (USD14 billion) plant. When completed in 2013, the subsidiary’s Jubail Export Refinery plant would produce 11.5 million tons of jet and diesel fuel oils, 4.3 million tons of gasoline and 2.15 million tons of petroleum coke, per year.

The conglomerate manufactures and distributes lubricants and base fuel oil, through the Saudi Aramco Lubricating Oil Refining Company (LUBEREF)Saudi Aramco Lubricating Oil Refining Company (LUBEREF). The subsidiary’s two refineries have a joint capacity of 4 million barrels of base oil per year, as of March 2011.

With 25 oil tankers, Vela International MarineVela International Marine provides marine transportation of refined, crude oil and petroleum products for its parent, Saudi AramcoSaudi Aramco.

Saudi AramcoSaudi Aramco stated, in November 2011, that its plans are to focus more on investing in gas, rather than increasing its oil production.