Riyadh – Mubasher: Saudi Arabian Oil Co, known globally as Saudi Aramco, on Thursday announced its annual report for 2016, highlighting its achievements during the year.
The largest oil company in the world recorded the highest level of procurement from local manufacturers during 2016, through increasing the value of purchases by $800 million to reach $2.9 billion, the company revealed in a statement.
Despite the drop in oil prices and the weakness in international market growth, Aramco achieved impressive results in 2016, Amin Nasser, president and CEO of Aramco, said.
“We will maintain our focus on reliable energy supply to customers around the world, and envision pursuing ultra-clean sustainable oil, doubling our gas supplies, establishing a leading position in renewables, and becoming a global powerhouse in refining chemicals and marketing,” Nasser added.
