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    2222   SA14TG012N13

SAUDI ARABIAN OIL COMPANY

(2222)
  Report
End-of-day quote. End-of-day quote Saudi Arabian Stock Exchange - 09/16
35.15 SAR   0.00%
09/16SAUDI ARABIAN OIL : Guyana grants Saudi Aramco unit one-year contract to market crude
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Saudi Arabian Oil : Aramco to bring Google Cloud Services to Saudi Arabia

12/21/2020 | 08:45am EDT
  • Saudi Arabia Cloud region added to Google Cloud Platform global network

  • Agreement between Saudi Aramco Development Company, a subsidiary of Aramco, and Google Cloud paves way for rollout of high-performance, low-latency cloud services

  • Opportunity taps into rapidly expanding cloud services demand in Saudi Arabia

Saudi Aramco Development Company, a subsidiary of Aramco, today announced it had teamed up with Google Cloud to offer high-performance, low-latency cloud services to customers in Saudi Arabia.

The Kingdom is being added to the global network of Google Cloud Platform regions, as part of a strategic alliance agreement signed between the Company and Google Cloud this month. Google Cloud will establish and operate a new cloud region in Saudi Arabia, while a new company will be formed following all required regulatory clearances to supply cloud solutions and services to customers, with an emphasis on businesses inside Saudi Arabia.

This new cloud region will allow organizations nationwide to grow and scale their offerings, while delivering digital products and services faster and more reliably. The collaboration taps into rapidly expanding cloud services demand in Saudi Arabia, which is forecasted to reach a market opportunity up to $10 billion by 2030. Increased dependence on online services during the COVID-19 pandemic has further accelerated the shift toward digital solutions. The rollout of Google Cloud services and infrastructure in Saudi Arabia will deliver a robust, reliable and agile solutions to meet growing demand for IT and cloud services.

Aramco Senior Vice President of Technical Services, Ahmad Al Sa'adi, said: 'We live in a world driven by data, and it is essential that companies not only have secure infrastructure to protect enterprise data, but also the tools that enable them to make the best use of it. Bringing Google Cloud to Saudi Arabia will deliver significant benefits, both now and in the future, and we are grateful to the Ministry of Communications and Information Technology for supporting this initiative. The future of Saudi Arabia's business transformation and growth depends on its ability to successfully leverage cloud services.'

Google Cloud CEO Thomas Kurian said : 'We are committed to helping businesses modernize and accelerate their digital transformations with Google Cloud. With this agreement, Google Cloud's innovative technology and solutions will be available to global customers and enterprises in Saudi Arabia to enable them to better serve end consumers.'

Google Cloud offers its customers multiple solutions, including artificial intelligence, smart analytics, data management, security, infrastructure and application modernization. It delivers these services globally while matching 100 percent of the energy used to power its operations with renewable energy.

Disclaimer

Saudi Aramco - Saudi Arabian Oil Company published this content on 21 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2020 13:44:00 UTC


© Publicnow 2020
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Analyst Recommendations on SAUDI ARABIAN OIL COMPANY
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Financials
Sales 2021 1 352 B 361 B 361 B
Net income 2021 367 B 97 938 M 97 938 M
Net Debt 2021 245 B 65 247 M 65 247 M
P/E ratio 2021 19,2x
Yield 2021 4,02%
Capitalization 7 026 B 1 874 B 1 874 B
EV / Sales 2021 5,38x
EV / Sales 2022 4,94x
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
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 35,15 SAR
Average target price 35,21 SAR
Spread / Average Target 0,17%
EPS Revisions
Managers and Directors
Amin bin Hasan Al-Nasser President, CEO & Executive Director
Khalid Hashim Al-Dabbagh Director, SVP-Finance, Strategy & Development
Yasir bin Othman Al-Rumayyan Chairman
Ahmad Abdul Rahman Al-Sa'adi Senior Vice President-Technical Services
Ziad Thamer Al-Murshed Vice President-International Operations
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