Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Saudi Arabian Oil Company    2222   SA14TG012N13

SAUDI ARABIAN OIL COMPANY

(2222)
  Report
End-of-day quote. End-of-day quote Saudi Arabian Stock Exchange - 01/19
34.9 SAR   -0.14%
05:06aSAUDI ARABIAN OIL : Aramco and stc unveil Dammam 7 Supercomputer
PU
01/13Saudi Aramco cuts Feb crude supply to some Asian refiners - sources
RE
01/07Saudi Aramco Raises Oil Prices for Asia, U.S.
DJ
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Saudi Arabian Oil : Aramco announces expansion of its flagship localization program

11/30/2020 | 01:45am EST

Aramco today announced the expansion of its flagship program to increase local content and boost domestic supply chains. It is a significant milestone in the company's In-Kingdom Total Value Add (iktva) program, which marks its fifth anniversary on December 1st. The expansion includes plans for new international partnerships and the establishing of companies through an Industrial Investment Program (IIP), which is linked to the development of Aramco's business.

Aramco has signed MoUs with Shell & AMG Recycling BV (AMG) from the Netherlands; Chinese firms Suzhou XDM, Shen Gong, Xinfoo and SUPCON; and Posco from South Korea.

These strategic collaborations pave the way for the launch of new businesses across multiple innovative growth sectors, including steel plate manufacturing, industrial 3D printing, digital equipment manufacturing, energy management and control; catalyst manufacturing and recycling, and advanced chip and smart sensor manufacturing.

These new collaborations reflect Aramco's commitment to increasing the company's reliability and operational efficiency, as well as its commitment to further enhancing the Kingdom's commercial ecosystem and increasing employment and development opportunities for talented Saudis. Since iktva's launch, Aramco's local content index has increased from 35% at the end of 2015 to 56%.

Amin H. Nasser, Aramco's President & Chief Executive Officer, said: 'Today's announcement is a step change in Aramco's pioneering IKTVA program which was launched in 2015. Despite the uncertainties surrounding the global economy, we have sustained our focus on our long-term goals to enable growth and development for a thriving ecosystem and a more diversified Saudi economy.

'These new partnerships will contribute to advancing innovation, sustainability and enhance the scale of reliability in our business ecosystem and, in addition, benefit companies operating in the Kingdom's vast energy and chemicals sector. These partnerships will also have a strong focus on new technologies, by maximizing our investments in non-metallic materials and the circular carbon economy, as well as the development of talented Saudis in communities where we operate.'

Ahmad Al-Saadi, Aramco's Senior Vice President of Technical Services, said: 'Aramco has a long history of supporting the local business ecosystem. Our iktva program is a manifestation of our commitment to this and the resulting investments, either directly by Aramco or indirectly by suppliers, have promoted localization, contributed to Aramco's supply chain resilience and enhanced Saudi Arabia's economic growth. Our planned partnerships will continue this journey and advance the Kingdom's economic progress. We intend to act as an enabler, supporting the growth of national champions. Today we are expanding our flagship program, and expect more partnerships in the future.'

Saudi Aramco has concluded MoUs with the following companies:

  1. POSCO - an agreement to collaborate on evaluating the feasibility of constructing an integrated steel plate manufacturing plant in Saudi Arabia.
  2. Suzhou XDM 3D Printing Company Ltd - an agreement to collaborate on industrial 3D printing technologies and development in Saudi Arabia.
  3. SHEN GONG New Materials (Guang Zhou) Co. Ltd - an agreement to focus on developing control systems technologies for LED lighting, energy management and intelligent control.
  4. XINFOO Sensor Technology Company Limited - an agreement to explore opportunities in chip manufacturing and related technologies.
  5. Shell & AMG Recycling B.V. - an agreement to explore collaboration to develop plans for a state-of-the-art regional hub for the recycling of gasification ash and reclamation of spent catalyst, in addition to providing sustainable solutions.
  6. Zhejiang SUPCON Technology Co., Ltd - an agreement to explore potential joint investment opportunities in Saudi Arabia for the services and manufacturing value chain.

Disclaimer

Saudi Aramco - Saudi Arabian Oil Company published this content on 30 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2020 06:44:02 UTC


© Publicnow 2020
All news about SAUDI ARABIAN OIL COMPANY
05:06aSAUDI ARABIAN OIL : Aramco and stc unveil Dammam 7 Supercomputer
PU
01/13Saudi Aramco cuts Feb crude supply to some Asian refiners - sources
RE
01/07Saudi Aramco Raises Oil Prices for Asia, U.S.
DJ
01/06Energy Rises As Apparent Democratic Sweep In Georgia Seen As Mixed Blessing -..
DJ
2020SABIC seeks Clariant chairman's ouster in post-Christmas coup
RE
2020SAUDI ARABIAN OIL : Aramco continues progress in digital transformation with SAP..
PU
2020SAUDI TV : Houthi sea mine strikes cargo ship in Red Sea
AQ
2020Aramco to bring Google Cloud services to Saudi Arabia
RE
2020SAUDI ARABIAN OIL : Aramco to bring Google Cloud Services to Saudi Arabia
PU
2020Saudi Aramco, Aker Unit to Form Joint Venture to Digitalize Industries
MT
More news
Financials
Sales 2020 819 B 218 B 218 B
Net income 2020 203 B 54 197 M 54 197 M
Net Debt 2020 317 B 84 510 M 84 510 M
P/E ratio 2020 33,6x
Yield 2020 3,95%
Capitalization 6 976 B 1 860 B 1 860 B
EV / Sales 2020 8,90x
EV / Sales 2021 6,66x
Nbr of Employees 79 000
Free-Float 1,76%
Chart SAUDI ARABIAN OIL COMPANY
Duration : Period :
Saudi Arabian Oil Company Technical Analysis Chart | 2222 | SA14TG012N13 | MarketScreener
Technical analysis trends SAUDI ARABIAN OIL COMPANY
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 32,56 SAR
Last Close Price 34,90 SAR
Spread / Highest target 11,7%
Spread / Average Target -6,71%
Spread / Lowest Target -31,2%
EPS Revisions
Managers and Directors
NameTitle
Amin bin Hasan Al-Nasser President, CEO & Executive Director
Yasir bin Othman Al-Rumayyan Chairman
Khalid H. Al-Dabbagh Senior VP-Finance, Strategy & Development
Ahmad Abdul Rahman Al-Sa'adi Senior Vice President-Technical Services
Mark Moody-Stuart Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SAUDI ARABIAN OIL COMPANY-0.29%1 862 312
ROYAL DUTCH SHELL PLC13.92%152 560
TOTAL SE4.76%117 404
PETROCHINA COMPANY LIMITED10.00%113 073
GAZPROM7.32%73 022
PETRÓLEO BRASILEIRO S.A. - PETROBRAS-0.95%70 618