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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 Company or simply Aramco, is a majority state-owned petroleum and natural gas company that is the national oil company of Saudi Arabia. As of 2024, it is the fourth-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 2,743,318.
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.
King Abdulaziz Air Base, also known as Dhahran Air Base and formerly Dhahran International Airport, Dhahran Airport and Dhahran Airfield, is a Royal Saudi Air Force base located in Dhahran in the Eastern Province, Saudi Arabia. Located west of Thuqbah and 7 km (4 mi) southeast of the Saudi Aramco Dhahran Camp, the airbase was the first Saudi Arabian airport to be constructed, in 1961, and is under the command of Air vice-marshal Prince Turki bin Bandar bin Abdulaziz Al Saud.
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.
Ras al-Khafji or Khafji (الخفجي) is a town on the border between Saudi Arabia and Kuwait. It lies in what was before 1970 the Saudi Arabian–Kuwaiti neutral zone.
The Al Muhaidib Group is an international private group of companies based in Saudi Arabia that was founded in 1946 by Abdul Kadir bin Abdul Muhsin Al-Muhaidib. The current chairman of the board of directors is Sulaiman A. K. Al-Muhaidib.
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.
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.
China–Saudi Arabia relations refers to the current and historical bilateral relationship between the People's Republic of China (PRC) and the Kingdom of Saudi Arabia.
The Petromin Corporation is a Saudi Arabian lubricants and automotive services company, operating in lubricant oils including manufacturer, industrial, and automotive oils and lubricants, car servicing, fuel retailing and car dealerships. The company is one of the "Major Leading Players" of the lubricating grease Industry.
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.
Saudi Vision 2030 is a government program launched by Saudi Arabia which aims to achieve the goal of increased diversification economically, socially and culturally, in line with the vision of Saudi Crown Prince and Prime Minister Mohammed bin Salman. It was first announced on 25 April 2016 by the Saudi government.
Dussur is a Saudi government company established in 2014 at Saudi Arabia for the development of strategic industrial investments. As of April 2019, its CEO is Raed Al-Rayes. Its shareholders include Public Investment Fund, Saudi Aramco, and SABIC.
Arabian Machinery & Heavy Equipment Company is a company based in Khobar, Saudi Arabia. AMHEC specializes in a wide range of services, including heavy equipment, transportation, facility management, and rig move services.
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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