Annual Review 2016

DHAHRAN, July 06, 2017

Since its earliest beginnings, Saudi Aramco has sought to be the world’s most reliable producer of petroleum energy.

Our long-term approach to managing the Kingdom’s hydrocarbon resources has consistently delivered superior performance and growth.

In 2016, we leveraged talent, fiscal discipline, and innovation to ensure resilience and realize landmark achievements, including record high rates of crude oil production, raw gas processing, and sales gas production, along with stronger integration along the entire petroleum value chain. We sustained our investments in research and development, seeking new ways of making petroleum more accessible, useful, sustainable, and competitive.

These achievements – and many others – are detailed in our 2016 Annual Review

Chairman's message

"By seeking new prospects, realizing potential, and building new capacities, the company created greater value for itself and for its customers and stakeholders, again proving that at Saudi Aramco, energy is opportunity."

Read the full message from Khalid A. Al-Falih, Minister of Energy, Industry and Mineral Resources and Chairman of the Board of Directors. (PDF, 49KB)

In 2016, Saudi Aramco leveraged its capabilities, talent, innovation, and fiscal discipline to ensure resilience and realize landmark achievements.

President's foreword

"We envision pursuing ultra-clean, sustainable oil, doubling gas supplies, establishing a leading position in renewables, and becoming a global powerhouse in refining, chemicals, and marketing — all enabled by the finest technologies and most talented employees in the world."

Read the full message from Amin H. Nasser, President and Chief Executive Officer (PDF, 48KB)

Key figures for 2016

  • Total hydrocarbon production* (million barrels of oil equivalent/day): 13.5
    *crude oil, sales gas, ethane, NGL, and condensate
  • Crude oil and condensate reserves (billions of barrels): 260.8
  • Gas reserves (trillions of standard cubic feet): 298.7
  • Crude oil produced (millions of barrels/day): 10.5
  • Total raw gas processed (billions of standard cubic feet/day): 12.0
  • Sales gas produced (billions of standard cubic feet/day): 8.3
  • Ethane produced (millions of standard cubic feet/day): 920
  • NGL produced (millions of barrels/day): 1.4
  • Worldwide refining capacity (millions of barrels/day): 5.4
  • Saudi Aramco share of refining capacity (millions of barrels/day): 3.1
  • Our business

    Upstream

    We have prudently managed Saudi Arabia’s oil and gas reserves to maximize their long-term value for both the Kingdom and our company.

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  • Our business

    Downstream

    With a diversified, integrated, and robust business portfolio, our supply, trading, and marketing model will mitigate oil price volatility.

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  • Innovation

    Stories of progress

    On the frontiers of energy and innovation, groundbreaking work is underway to unlock the full potential of our energy resources.

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  • Citizenship

    Enhancing our commercial ecosystem

    By leveraging the immense promise of the Kingdom’s resources, we enable a thriving commercial ecosystem that benefits our business and the country.

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  • Innovation

    Powering innovation

    We originate impactful, innovative solutions to make our resources more dependable, sustainable, and valuable — for the benefit of our business, Saudi Arabia, and energy consumers around the world.

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