Saudi Aramco pursues a pair of intertwined objectives: to be the world’s most reliable supplier of energy and to continue to strengthen and diversify the local economy. In pursuit of these objectives, Saudi Aramco has embarked on a series of “mega projects.” These projects range from expanding crude-oil and natural gas production capacity to new refining, petrochemical and marketing ventures. Beyond our core petroleum business, we believe we have a responsibility to make a positive impact in society. Working in partnership with local communities and government agencies, our strategy is to promote sustainable social and economic development.
Over the last twelve months, the economic world has witnessed unprecedented social, financial and institutional shifts. As the paradigm for success is being redesigned, the downstream sector is adapting to this critical change of pace. Streamlined internal processes, full commitment to research and development and a decisive move towards clean fuels – this is what will make the difference for smart refineries and integrated plants. In the downstream industry experience, knowledge and capability is imperative for success. Companies with solid structures and flexibility, know-how and openness, resources and a flair for risk are best placed to succeed.
Our company was established as a Saudi joint stock company with a paid-up capital of SR 33,758,632,650 (Thirty three billion seven hundred fifty eight million six hundred thirty two thousand six hundred and fifty Saudi Riyals). This amount was divided into 675,172,653 shares (Six hundred seventy five million, one hundred seventy two thousand six hundred and fifty three shares). This was achieved by virtue of the Cabinet Order No. 169 Dated 11/08/1419H. which stipulated the merger of all Saudi electricity companies in the Central, Eastern, Western and Southern Regions in addition to the ten small companies operating in the north of the Kingdom as well as all other electricity operations managed by The General Electricity Corporation, into a single joint stock company which is now known as Saudi Electricity Company.After the accomplishment of the merger process, we adopted a gradual, systematic approach to the re-development and consolidation of the organizational structure of the Company to ensure constant provision of the electric power services, taking into consideration maintaining the electricity system’s reliability, the quality service provided to our customers and ensuring the human resources adaptability to change in order to achieve our strategic goals and our shared vision.