Saudi Aramco reinforces its leading role in global energy supply: 2017 Annual Review

2017 highlights:

• Produced an average of 10.2 million barrels per day of crude oil including condensate
• Increased amount of natural gas supplied for fourth straight year, to an average of 8.7 billion standard cubic feet per day
• Crude oil exports averaged 6.9 million barrels per day
• Completed the acquisition of Motiva Enterprises to become the sole owner of North America’s largest single-site crude oil refinery
• Expanded global downstream portfolio with partnerships in China and Malaysia
• A record 230 U.S. patents granted, reflecting continued commitment to innovation and further reducing the greenhouse gas intensity of crude oil and its derivatives.

Saudi Aramco, the world’s leading integrated energy and chemicals company, released today its 2017 Annual Review highlighting strategic achievements that reinforce the company’s role as the number one producer of crude oil and condensate, adding value by integrating refining and chemicals production, and expanding cleaner natural gas supply to meet domestic demand.

Amin Nasser noted that in 2017, Saudi Aramco progressed a slate of oil and gas mega-projects in the Upstream. He also highlighted that in the Downstream, the company continued to enhance its global network and completed key agreements designed to extract maximum value across the hydrocarbon value chain. Importantly, he said Saudi Aramco’s safety performance remained strong and among the highest in the industry.

In 2017, Saudi Aramco continued to deliver on its long-term strategy of reliable supply to meet customer needs, thereby driving economic growth in the Kingdom and around the world. Despite uncertain, volatile market conditions, we continued to create long-term value to benefit our shareholder, customers, and partners. This year’s review underscores how Saudi Aramco is committed to playing its part in meeting the world’s energy needs today and tomorrow by continuing to invest wisely throughout the cycle and across the value chain.