100%(1)1 out of 1 people found this document helpful
This preview shows page 1 - 2 out of 4 pages.
Since the Saudi Aramco is considered one of the biggest oil company in the whole world,Saudi Aramco is seriously planning on increasing its globalization. The company of Saudi Aramco considered expanding oil and gas supplies to meet the needs of domestic and international markets which is the core of Saudi Aramco’s business. Due to its goal to increase the globalization of the company, King Salman and Crown Prince HRH Mohammed ibn Salman review the company’s strategies and provide a new governance structure for Saudi Aramco. Theyprovide a vision to be fully integrated company, leading in energy and chemicals production withexpanding their operations worldwide by 2020 (Saudi Aramco, 2015). Therefore, Saudi Aramco continues to pursue opportunities to make further development in its chemicals and refining capacities to enable sustainable growth and great value creation (Saudi Aramco, 2018). The global operations and markets are done through subsidiaries, joint-venture and shareholding relationships with international partners (Saudi Aramco, 2018). Saudi Aramco subsidiaries are key players in the region’s vibrant energy market. Therefore, Saudi Aramco has many partners globally like United State, Japan, China, Singapore, Egypt, Republic of Korea, Netherlands, United Kingdom and United Arab of Emirates (Saudi Aramco, 2015).