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ARAMCO, Saudi Arabia’s engine

Published 20th May 2010 - 0 comments - 849 views -

Aramco is the most profitable company in the World with an income of over 250 billion dollars a year. It is also the largest oil company and is firmly taking Saudi Arabia into the XXI century. Today 5 major cities are being built in the middle of the Saudi desert thanks to the Black Gold. Aramco sources estimate the company’s reserves at 260 billion barrels of crude with a very likely chance these reserves will increase up to 450 billion barrels by 2020 -according to Forbes magazine. That would be enough oil to satisfy the entire world’s oil demand for several years at today’s demand rates, estimated at around 90 million barrels a day. So the Saudi Arabian architects, engineers and project managers see their jobs secure. While thousands of construction workers from Pakistan and other Asian countries keep lifting skycrapers, cleaning the streets and living the Saudi Dream. Aramco has robust high tech infrastructures, a very well developed supply chain and some of the best engineers to the service of the King Abdullah, because Aramco is a company owned by the Saudi State and controled by the Royal Family. So when the oil supply debate arises as the main concern of environmental problems we should ask Aramco’s executives what will they do if they find themselves out of the market. One thing seems to be certain, they are not going to run out of oil and the oil demand keeps raising. But not without the aid of some very "green" Governments that keep boosting the traditional car industry, one of the most "polluted" ones. The picture is authentic and clean: Saudis, in the first frame, are enjoying the economical boost more that their clients. This is the Development frame. In the second frame, the United Arab Emirates keep in the same channel. With the same kind of State owned oil companies that are the real engine behind some of the most impressive and expensive development initiatives in contemporary times. In the background, thousands of blurry faces are building the Arabian Dream, sending money back home and helping their families. Developing...

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