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Saudi Arabian Oil Co

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BUSINESS
November 10, 1988 | From Reuters
In a move that furthers a 15-year effort to reduce the role of U.S. oil companies in its oil industry, Saudi Arabia on Wednesday said that it has decided to establish a state oil company. The official Saudi Press Agency said the Saudi Cabinet had decided to set up the Saudi Arabian Oil Co., but gave few details. The new state company will apparently take formal control of the kingdom's vast oil industry from the Arabian American Oil Co., Aramco, a consortium formerly owned by four major U.S.
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BUSINESS
October 13, 1989 | From Reuters
Saudi Arabia, the world's biggest oil exporter, plans to spend $15 billion in the next six years to maintain its supremacy in the oil market, regional bankers and oil industry analysts said Thursday. "Saudi Arabia wants to remain a market leader in the 1990s," one oil industry manager said. "It also does not want its share within OPEC to erode as world demand grows." Oil industry sources in the Gulf said the Saudi Arabian Oil Co.
BUSINESS
May 12, 1991 | TOM FURLONG, TIMES STAFF WRITER
Here at the fortress-like compound of Saudi Arabian Oil Co.--arguably the most influential and secretive business organization on Earth--daily life is fast regaining its equilibrium as the Persian Gulf crisis fades from memory. The schools are filling up again, and "the lines in the grocery store are a clear indication that things are returning to normal," said Micki Harman, whose husband is a pilot for Saudi Aramco, as the government-owned company is known.
BUSINESS
May 12, 1991 | TOM FURLONG, TIMES STAFF WRITER
Here at the fortress-like compound of Saudi Arabian Oil Co.--arguably the most influential and secretive business organization on Earth--daily life is fast regaining its equilibrium as the Persian Gulf crisis fades from memory. The schools are filling up again, and "the lines in the grocery store are a clear indication that things are returning to normal," said Micki Harman, whose husband is a pilot for Saudi Aramco, as the government-owned company is known.
BUSINESS
January 10, 1989 | DONALD WOUTAT, Times Staff Writer
Saudi Arabia, already blessed with the world's largest reserves of crude oil, declared Monday that a new computer assessment shows it has about 50% more crude oil and 25% more natural gas than previously believed. If correct, the new Saudi numbers would boost by about 10% the free world's proven reserves of crude oil to the 900-billion-barrel range. This would tend to prolong the oil era and underscore the reliance of industrialized nations on the Middle East.
BUSINESS
July 6, 1990 | PATRICK LEE, TIMES STAFF WRITER
California engineering and construction firms that helped build much of Saudi Arabia's oil industry have been weathering a dry decade in the desert kingdom and elsewhere, but there are signs that the drought has broken. Parsons Corp. of Pasadena and Fluor Corp. of Irvine have won multibillion-dollar contracts to build and refurbish oil and gas facilities in Saudi Arabia. No figures have been released by the companies or by the state-owned Saudi Arabian Oil Co., better known as Saudi Aramco.
BUSINESS
February 28, 1991 | JESUS SANCHEZ, TIMES STAFF WRITER
Torn apart by the Gulf War and divided by deep political and religious rivalries, the Middle East may not appear to be the ideal place to go job-hunting. But American job seekers have swamped the switchboards at the Houston offices of Saudi Arabian Oil Co. after the oil giant placed want ads in U.S. newspapers Sunday announcing 1,000 engineering and other positions in the Saudi kingdom.
NEWS
June 28, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Fluor Daniel, the engineering and construction arm of Fluor Corp., Wednesday landed what appears to be the largest contract in Fluor's 78-year history--estimated by sources to be worth $6 billion--to oversee expansion of petroleum facilities for Saudi Arabia. Fluor Chief Executive Les McCraw called the pact "prospectively, the most significant project we've had in over a decade."
BUSINESS
February 28, 1991 | JESUS SANCHEZ, TIMES STAFF WRITER
Torn apart by the Gulf War and divided by deep political and religious rivalries, the Middle East may not appear to be the ideal place to go job-hunting. But American job seekers have swamped the switchboards at the Houston offices of Saudi Arabian Oil Co. after the oil giant placed want ads in U.S. newspapers Sunday announcing 1,000 engineering and other positions in the Saudi kingdom.
NEWS
December 16, 1990 | DAVID LAMB, TIMES STAFF WRITER
In many ways, the focal point of the Persian Gulf confrontation is not a country or a principle, but a company--Saudi Aramco. It is the economic lifeline represented by Aramco, in essence, that America has come to defend with the largest buildup of forces assembled since Vietnam. Aramco, headquartered in Dhahran, produces 96% of Saudi Arabia's oil and controls one-quarter of the world's known oil reserves. It employs the biggest community of Americans--about 4,700--in the Middle East.
BUSINESS
August 31, 1990 | From Reuters
About 600 foreign workers who fear an outbreak of war in the Persian Gulf have resigned from Saudi Aramco and many more are expected to go, a Saudi executive of the company said Thursday. But production by the giant state-owned Saudi oil company was unaffected, he said in an interview in this nerve center of Saudi Arabia's oil industry, now also the base for U.S. forces massing in the kingdom.
BUSINESS
July 6, 1990 | PATRICK LEE, TIMES STAFF WRITER
California engineering and construction firms that helped build much of Saudi Arabia's oil industry have been weathering a dry decade in the desert kingdom and elsewhere, but there are signs that the drought has broken. Parsons Corp. of Pasadena and Fluor Corp. of Irvine have won multibillion-dollar contracts to build and refurbish oil and gas facilities in Saudi Arabia. No figures have been released by the companies or by the state-owned Saudi Arabian Oil Co., better known as Saudi Aramco.
BUSINESS
June 28, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Fluor Daniel Inc., the construction and engineering division of Irvine-based Fluor Corp., said Wednesday that it has landed a Saudi Arabian oil facilities contract that some industry analysts say could be worth as much as $6 billion over the next decade.
NEWS
June 28, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Fluor Daniel, the engineering and construction arm of Fluor Corp., Wednesday landed what appears to be the largest contract in Fluor's 78-year history--estimated by sources to be worth $6 billion--to oversee expansion of petroleum facilities for Saudi Arabia. Fluor Chief Executive Les McCraw called the pact "prospectively, the most significant project we've had in over a decade."
BUSINESS
August 31, 1990 | From Reuters
About 600 foreign workers who fear an outbreak of war in the Persian Gulf have resigned from Saudi Aramco and many more are expected to go, a Saudi executive of the company said Thursday. But production by the giant state-owned Saudi oil company was unaffected, he said in an interview in this nerve center of Saudi Arabia's oil industry, now also the base for U.S. forces massing in the kingdom.
NEWS
December 16, 1990 | DAVID LAMB, TIMES STAFF WRITER
In many ways, the focal point of the Persian Gulf confrontation is not a country or a principle, but a company--Saudi Aramco. It is the economic lifeline represented by Aramco, in essence, that America has come to defend with the largest buildup of forces assembled since Vietnam. Aramco, headquartered in Dhahran, produces 96% of Saudi Arabia's oil and controls one-quarter of the world's known oil reserves. It employs the biggest community of Americans--about 4,700--in the Middle East.
BUSINESS
October 13, 1989 | From Reuters
Saudi Arabia, the world's biggest oil exporter, plans to spend $15 billion in the next six years to maintain its supremacy in the oil market, regional bankers and oil industry analysts said Thursday. "Saudi Arabia wants to remain a market leader in the 1990s," one oil industry manager said. "It also does not want its share within OPEC to erode as world demand grows." Oil industry sources in the Gulf said the Saudi Arabian Oil Co.
BUSINESS
January 10, 1989 | DONALD WOUTAT, Times Staff Writer
Saudi Arabia, already blessed with the world's largest reserves of crude oil, declared Monday that a new computer assessment shows it has about 50% more crude oil and 25% more natural gas than previously believed. If correct, the new Saudi numbers would boost by about 10% the free world's proven reserves of crude oil to the 900-billion-barrel range. This would tend to prolong the oil era and underscore the reliance of industrialized nations on the Middle East.
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