Saudi Aramco considers as the largest company in the world about not only the oil but also terms of proven crude oil reserves and production. The name of Aramco came from an Arabian American Oil Company when King Abdul Aziz signed a concessionary agreement with Standard Oil of California (Socal). Socal company couldn’t discover the oil and compelled to buy a 50% to the Texas Oil Company which succeeds after 4 years in discovery area has oil a few miles north of Dhahran in 1938, that area immediately produced over 1,500 barrels per day. King Abdul Aziz wanted to agree to share its profits on oil sales 50/50 as American oil companies in Venezuela a few years earlier. In 1973 the Saudi Arabian government had share of Aramco a 25%, and increased to 60% by 1974. In 1980 Aramco became Saudi Arabia Company 100% and changed its name from Arabian American Oil Company to Saudi Arabian Oil Company.
In my opinion, there are strong relationship between Saudi Arabia and the USA in many kinds of business. The USA considers as the first country which has many of excellence in Saudi Arabia. Many countries don’t like Saudi Arabia because of its oil and the strong relationship with the USA. In my country there is the largest company which has oil and it considers as the first country which has strong decisions in the Middle East and the world.
In my opinion, there are strong relationship between Saudi Arabia and the USA in many kinds of business. The USA considers as the first country which has many of excellence in Saudi Arabia. Many countries don’t like Saudi Arabia because of its oil and the strong relationship with the USA. In my country there is the largest company which has oil and it considers as the first country which has strong decisions in the Middle East and the world.
No comments:
Post a Comment