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Saudi Arabia is a sovereign Arab state in Western Asia constituting the bulk of the Arabian Peninsula. The country's command economy is petroleum-based but slowly diversifying; in 2017 58% of budget revenues and 85% of export earnings came from the oil industry. [ 1 ][ 2 ] The country plans to reduce oil-based revenues to 42% by 2023. [ 3 ] A considerable proportion of Saudi companies are ...
Max Steineke was a prominent American petroleum geologist. He was chief geologist at California-Arabian Standard Oil Co. (CASOC) from 1936 until 1950 (by which time CASOC had become Aramco). His efforts, and persistence through repeated setbacks, led to the first discovery of oil in commercial quantities in Saudi Arabia, which took place at the well known as " Dammam No. 7 " in March 1938. [ 1 ...
The Tamimi Group of Companies, sometimes called the al-Tamimi Group, is a large Saudi Arabian conglomerate of companies involved in supermarket chains, hotels, catering, real estate, oilfield services & supplies, road construction, transportation and trucking, power generation and water filtration. The company is in partnership with Pakistani businessman and politician Sardar Tanveer Ilyas Khan.
Shaybah, also called as Zararah, [2] is a settlement dominated by a major crude oil production oil site, the Shaybah oil field, in Saudi Arabia, located approximately 40 kilometres (25 mi) from the northern edge of the Rub' Al-Khali ("Empty Quarter") desert.
King Fahd University of Petroleum and Minerals (KFUPM) is a nonprofit [1] 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. Founded near the earliest local oil ...
Saudi Aramco (Arabic: أرامكو السعودية ʾArāmkū as-Suʿūdiyyah), officially the Saudi Arabian Oil Group or simply Aramco (formerly Arabian-American Oil Company), is a state-owned petroleum and natural gas company that is the national oil company of Saudi Arabia. [6][7] As of 2022, it is the second- largest company in the world by revenue [8] and is headquartered in Dhahran ...
The Public Investment Fund (PIF; Arabic: صندوق الاستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$ 925 billion (£ 726.3 billion). [2] It was created in 1971 for the purpose of investing funds on behalf of the Government of Saudi Arabia. [3] The wealth fund is ...
Dammam (Arabic: الدمّام ad-Dammām) 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.