The leading petroleum company Aramco will establish a new joint venture company with digital leader Cognite. The new JV company will focus on digitalization in Saudi Arabia and the broader Middle East and North Africa region.
- The JV will leverage Cognites flagship industrial data platform, Cognite Data Fusion, as its core technology and will harness state-of-the-art cloud capabilities for data hosting, analytics and artificial intelligence.
- The JV will develop, distribute and deploy end-to-end digital and advanced solutions for customers across industries, including oil and gas, power and utilities, manufacturing and shipping.
June 2020, Saudi Aramco has announced the acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, for approximately US$ 69.1 billion.
In February 2020, Aramco Trading Company (ATC) announces the establishment of its London subsidiary – Aramco Trading Limited (ATL). ATL will be at the forefront of ATCs business activities in Europe and extended ATCs operational reach to cover North and West Africa as well. ATL is now the third international office for ATC alongside Aramco Trading Fujairah and Aramco Trading Singapore.
In December 2019, Saudi Arabian Oil Company (Saudi Aramco) has completed, through its subsidiary Aramco Overseas Company B.V. (AOC), the acquisition of 17% of Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately US$1.2 Billion.
About Saudi Aramco
Dhahran based Saudi Arabian Oil Company is the world’s biggest oil producer. Aramco is world leader in hydrocarbons exploration, production, refining, distribution and marketing. The company has more than 70,000 people across the world. The company produce and deliver reliably refined products, chemicals and base oils to the whole world. The company represented in the three major global energy markets of Asia, Europe and North America.