- Saudi Aramco has been named the world’s No. 1 oil company for the
13th consecutive year, maintaining its position while a
new industry structure emerges, according to Petroleum
Intelligence Weekly (PIW), an influential trade publication.
The PIW rankings,
which place Petroleos de Venezuela second and ExxonMobil third, are
based on year 2000 figures for oil reserves and production, gas
reserves and output, refinery capacity and product sales.
“We are proud of our
achievements, which we owe to the effectiveness of our employees,”
Saudi Aramco president and CEO Abdullah S. Jum‘ah said. “But we
recognize that our responsibilities extend beyond such accolades. We
have responsibilities to the Kingdom, our customers and our
partners. We also have social and environmental responsibilities.”
maintains an enormous advantage in crude reserves. Gas reserves held
by Saudi Aramco place it fourth on PIW’s slate.
Saudi Aramco also
dominates in oil output, 8.6 million barrels per day in 2000. Its
gas output, 4.6 billion cubic feet per day (cfd), ranks ninth on
PIW’s Top-50 list.
In refinery capacity
and oil product sales, Saudi Aramco ranks seventh and sixth,
respectively. While state-owned companies such as Saudi Aramco
maintain their leading positions in the overall rankings, PIW
notes that “a whole new group of major oil companies has taken shape
in recent years.”
only make Saudi Aramco better, Jum‘ah said. “Increasing competition
will encourage us to remain at our best in all respects and to
maintain a high level of cooperation with key players in the
petroleum industry,” he said. “We also have initiatives that are
among the biggest in the world, which include a business integration
system that will help us increase our productivity and efficiency to
maintain a position of responsible leadership.”