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The economy of Saudi Arabia is the second-largest in the Middle East and the seventeenth-largest in the world. The Saudi economy is highly reliant on its petroleum sector. Oil accounts on average in recent years for approximately 40% of Saudi GDP and 75% of fiscal revenue, with substantial fluctuations depending on oil prices each year.
Saudi Aramco, officially the Saudi Arabian Oil Group or simply Aramco, is a state-owned petroleum and natural gas company that is the national oil company of Saudi Arabia. As of 2022, it is the second-largest company in the world by revenue and is headquartered in Dhahran. Saudi Aramco has both the world's second-largest proven crude oil reserves, at more than 270 billion barrels, 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.
Dammam is the capital of the Eastern Province of Saudi Arabia. With a population of 1,532,300 as of 2022, Dammam is the kingdom's fourth-most populous city after Riyadh, Jeddah, and Mecca. Dammam constitutes the core of the Dammam metropolitan area, also known as the Greater Dammam area, which comprises the 'Triplet Cities' of Dammam, Dhahran, and Khobar. The region is closely linked to the city through social, economic, and cultural ties. As of 2022, the Dammam metropolitan area's population was 2,190,900.
King Fahd University of Petroleum and Minerals (KFUPM) is a nonprofit research university in Dhahran, Eastern Province, Saudi Arabia. Established in 1963 by King Saud bin Abdulalziz as the College of Petroleum and Minerals, it is ranked among the most prestigious academic institutions in Saudi Arabia.
ATCO Ltd., operating as the ATCO Group, is a publicly-traded Canadian engineering, logistics and energy holding company based in Calgary, Alberta. ATCO's subsidiaries include electric utilities, natural gas production and distribution companies, and construction companies.
Turki bin Muhammad Al Saud is a Saudi Minister of State, a member of the Council of Ministers of Saudi Arabia, and of the House of Saud.
Wärtsilä Oyj Abp, trading internationally as Wärtsilä Corporation, is a Finnish company which manufactures and services power sources and other equipment in the marine and energy markets. The core products of Wärtsilä include technologies for the energy sector, including gas, multi-fuel, liquid fuel and biofuel power plants and energy storage systems; and technologies for the marine sector, including cruise ships, ferries, fishing vessels, merchant ships, navy ships, special vessels, tugs, yachts and offshore vessels. Ship design capabilities include ferries, tugs, and vessels for the fishing, merchant, offshore and special segments. Services offerings include online services, underwater services, turbocharger services, and also services for the marine, energy, and oil and gas markets. At the end of December 2023, the company employed 17,800 workers.
Saudi Basic Industries Corporation, known as SABIC, is a Saudi chemical manufacturing company. 70% of SABIC's shares are owned by Saudi Aramco. It is active in petrochemicals, chemicals, industrial polymers and fertilizers. It is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul.
Crowley, legally Crowley Maritime Corporation, is based in Jacksonville, Florida, United States. Founded in 1892, Crowley is primarily a family- and employee-owned vessel management, owner, and supply chain logistics services company, providing services globally. As of July 2016, Crowley was ranked as the 13th largest private company in Florida, employing approximately 5,300 people worldwide with revenues of $2.2 billion. It provides its services using a fleet of more than 300 vessels, consisting of RO-RO vessels, LO-LO vessels, tankers, Articulated Tug-Barges (ATBs), tugs and barges. Crowley's land-based facilities and equipment include terminals, warehouses, tank farms, and specialized vehicles.
Dhahran is a city located in the Eastern Province, Saudi Arabia. With a total population of 143,936 as of 2022, it is a major administrative center for the Saudi oil industry. Together with the nearby cities of Dammam and Khobar, Dhahran forms part of the Dammam Metropolitan Area, which is commonly known as greater Dammam and has an estimated population of 2.2 million as of 2022.
Essar Shipping Ltd., now Essar Shipping Ports & Logistics Limited, is an Indian shipping corporation for the global energy business. Established in 1945, Essar Shipping was formally incorporated in 2010 and is listed on the Bombay Stock Exchange. Headquartered in Mumbai, it operates as a subsidiary of the Essar Group.
The Yusuf Bin Ahmed Kanoo Group is a privately held business conglomerate established in 1890. It is one of the largest family-owned multinationals in the Middle East, with complementary businesses and strategic partnerships. It has a physical presence across the Middle East, North Africa, Europe and Asia, and a 4,000-strong workforce, covering a broad range of sectors. Its business groups include: Kanoo Capital, Industrial & Energy, Travel, Shipping & Logistics and Real Estate.
Bahri, formerly known as the National Shipping Company of Saudi Arabia, is a transportation and logistics company, positioned as the national shipping carrier of Saudi Arabia.
The Port Authority of San Antonio is a public entity created to redevelop some of the land formerly occupied by Kelly Air Force Base in San Antonio, Texas.
Samsung SDS Co., Ltd., Established in 1985 as a subsidiary of Samsung Group, is a provider of Information Technology (IT) services, including consulting, technical, and outsourcing services. SDS is also active in research and development of emerging IT technologies such as Artificial Intelligence (AI), Blockchain, Internet of Things (IoT) and outsourcing in engineering. In 2019, Samsung SDS reported a net profit of 750.4 billion won, an increase of 17.5% year-on-year. The company is estimated to have the 11th most valuable brand among global IT service companies, at US$3.7 billion as of January 2020. Samsung SDS has headquarters in South Korea and eight other overseas subsidiaries, one in America, Asia-Pacific, China, Europe, Latin America, Middle East, India, and Vietnam.
The Royal Commission for Jubail and Yanbu (RCJY) was established on 21 September 1975, as an autonomous organization of the Saudi Arabian Government. The commission is governed by a board of directors and its chairman reports to the Council of Ministers. The chairman's office in Riyadh formulates policies and oversees implementation through two Directorates General; one in Jubail and the other in Yanbu.
Bin Quraya Group is the leading Mobile Cranes and Heavy Equipment rental firm in Saudi Arabia, with one of the Middle East's largest heavy equipment fleets. The company is based in Dhahran, Saudi Arabia, with clients and projects across the country.
AD Ports Group is the exclusive developer and regulator of ports and related infrastructure in Abu Dhabi.
Amin Hassan Nasser is the President and CEO of Saudi Aramco, the world's second-largest oil producer. He became acting president and chief executive in May 2015 before assuming the position permanently in September 2015. During his tenure at Aramco, he has criticized fossil fuel divestment and promoted expansion and investment into oil production.
King Salman Energy Park is a new megaproject being constructed and located between Dammam and Al-Ahsa in the Eastern Province of Saudi Arabia. This project is being developed, operated and managed by Saudi Aramco.
References
- ↑ "ATCO COMMERCIAL". atco.com.sa. Retrieved 2023-03-22.
- ↑ "ATCO CONSTRUCTION MATERIAL". atco.com.sa. Retrieved 2023-03-22.
- ↑ "EAST & WEST FACTORY". atco.com.sa. Retrieved 2023-03-22.
- ↑ "EAST & WEST EXPRESS". atco.com.sa. Retrieved 2023-03-22.
- ↑ "ATCO PORT MANAGEMENT & MARINE SERVICES". atco.com.sa. Retrieved 2023-03-22.
- ↑ "ATCO FOOD". atco.com.sa. Retrieved 2023-03-22.
- ↑ "EAST & WEST FACTORY AUTOMATION SYSTEMS". atco.com.sa. Retrieved 2023-03-22.
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