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FACTBOX-Inside Saudi Aramco's oil operations

Sat, 14th Sep 2019 19:06

HOUSTON, Sept 14 (Reuters) - Saudi Arabia's oil productionand exports have been disrupted bydrone attacks on two major oil facilities run by state-ownedcompany Aramco, including the world's biggest petroleumprocessing facility.

Two sources close to the matter said 5 million barrels perday of crude production had been impacted -- close to half ofthe kingdom's output or 5% of global oil supply.

The pre-dawn drone attack by Yemen's Iran-aligned Houthigroup set off several fires, although the kingdom, the world'slargest oil exporter, later said these were brought undercontrol.

State television said exports were continuing, howeverAramco has yet to comment since the assault. The authoritieshave not said whether oil production or exports were affected.

Here are key facts about the historically secretive oilcompany, including details released this year of its financesand operations.

OIL RESERVES

Aramco, the world's biggest oil company, had in 2017 liquidsreserves of 260.2 billion barrels of oil equivalent, which arelarger than the combined reserves of Exxon Mobil Corp,Chevron Corp, Royal Dutch Shell Plc, BP Plcand Total SA, and which have an estimatedreserve life of 54 years.

OIL PRODUCTION

The company produced 10.3 million barrels per day (bpd) ofcrude last year, touting the lowest cost in the world to producecrude, at $2.8 a barrel, according company documents. It alsoproduced 1.1 million barrels of natural gas liquids and 8.9billion standard cubic feet per day of natural gas.

OIL EXPORTS

Almost three-quarters of Aramco's crude exports, about 5.2million bpd, were delivered to customers in Asia last year,where it believes demand will grow faster than elsewhere in theworld. Its Asian buyers include China, India, South Korea, Japanand Taiwan. Its crude deliveries to North America reached morethan 1 million bpd last year; to Europe, 864,000 bpd.

OIL REFINING

The company produces, refines and exports oil from SaudiArabia, but has refining operations across the globe. Aramco'sU.S. oil refining subsidiary Motiva Enterprises ownsthe 607,000 barrel-per-day Port Arthur, Texas, refinery, thelargest in the United States and in 2017 announced plans for $18billion in investments in its operations in the Americas overfive years.

Aramco is also expanding its oil refining and downstreamcapacity in the region, particularly in rapidly growingcountries such as China and India. Aramco in 2018 had a netrefining capacity of 3.1 million barrels per day.

SCALE

With 76,000 employees in 2018, Aramco has energy industryoperations, research facilities and offices scattered across theglobe, in Asia, Europe and the Americas. It has country officesin Beijing, New Delhi, Singapore, New York, London, Houston andelsewhere.

(Reporting by Collin Eaton in Houston, editing by LouiseHeavens)

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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