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  • Aramco announces Downstream business reorganization to enhance performance and support
    édité le 15/07/2020 - Plus de news de "SAUDI ARAMCO" - Voir la fiche entreprise de "SAUDI ARAMCO"


Aramco announces Downstream business reorganization to enhance performance and support
The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced the reorganization of its Downstream business to support and enhance integration across the hydrocarbon value chain and better position the Company to drive financial performance, value creation and global growth.

The Company’s Downstream operating model will include four commercial business units: Fuels (includes Refining, Trading, Retail and Lubes); Chemicals; Power; and Pipelines, Distribution & Terminals. These business units will be supported by three corporate functions: Manufacturing, Strategy & Marketing and Affiliates Affairs.

This reorganization is designed to enhance the effectiveness and efficiency of Aramco's existing Downstream assets, but does not represent a fundamental change in the overall business structure.

Abdulaziz M. Al Gudaimi, Senior Vice President of Aramco Downstream, said: “I am excited that we are launching a new operating model that we believe will help streamline our operations and reinforce our position as a major global energy and petrochemicals player. This reorganization is yet another step in Aramco’s strategy to develop a global integrated Downstream business that enhances our competitiveness by maximizing our value capture across the hydrocarbon value chain.”

The reorganization, which is expected to be in place by the end of the year, further strengthens Aramco’s industry leadership in safety, sustainability, efficiency and reliability.

Aramco has a large, strategically integrated global Downstream business that leverages the Company’s competitive Upstream position. The Company’s Downstream strategy focuses on creating growth opportunities across the hydrocarbon chain in order to expand the Company’s sources of earnings, providing resilience to oil price volatility and capitalizing on rising demand for petrochemical products.

About Saudi Aramco

Saudi Aramco is a leading global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.
“We are counting on the long-standing relationship between Saudi Aramco and SABIC on one side, and KBR on the other, to develop this preliminary engineering package for the world-class complex.” says Fahad E. Al-Helal, vice president of Project Management.


Origine : Communiqué SAUDI ARAMCO

Voir la fiche entreprise de "SAUDI ARAMCO"



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