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Saudi Aramco Strengthens Its Key Role In Global Energy Supply

- Aug 23, 2018 -

According to's website on August 19, Riyadh reported that in order to meet domestic and international demand, Saudi Arabia's state-owned oil giant Saudi Arabian National Oil Company (Saudi Aramco) added value by integrating refining and chemical production and expanding cleaner natural gas supply. It has strengthened its role as the world's largest producer of crude oil and condensate.

Saudi Aramco said in its 2017 annual review report highlighting its strategic results today that Saudi Aramco will improve its mature oilfield production, accelerate the development of newly discovered oil fields and secondary oil and gas reservoirs, and develop new reserves from new increments. Maintain its position as the world's leading crude oil producer.

Saudi Aramco President and CEO Amin Nasser said: "In 2017, Saudi Aramco will continue to implement its long-term reliable supply strategy to meet customer needs, thereby promoting the economic growth of the Kingdom of Saudi Arabia and the world."

Nasser said: "Despite the uncertainties and instability in the market environment, we continue to create long-term value to benefit our shareholders, customers, and partners. This year's review highlights how Saudi Aramco passes the entire cycle and the entire value. A wise investment in the chain is dedicated to playing its part in meeting today's and tomorrow's global energy needs."

Nasser pointed out that in 2017, Saudi Aramco implemented a series of oil and gas projects in the upstream sector.