Saudi Aramco: Summary Chronography

1933

Saudi Arabia grants oil concession to California Arabian Standard Oil Company (Casoc), affiliate of Standard Oil of California (Socal, today's Chevron). Oil prospecting begins on Kingdom's east coast.

1936

Texas Company (now Texaco) acquires 50 percent interest in Socal's concession.

1938

Kingdom's first commercial oil field discovered at Dhahran. Crude is exported by barge to Bahrain.

1939

First tanker load of petroleum is exported.

1944

Casoc changes its name to Arabian American Oil Company (Aramco).

1945

Ras Tanura Refinery begins operations.

1948

Standard Oil of New Jersey (now Exxon) and Socony-Vacuum Oil (now Mobil) join Socal and Texaco as owners of Aramco.

1950

1,700-km Trans-Arabian Pipe Line (Tapline) is completed, linking Eastern Province oil fields to Lebanon and the Mediterranean.

1956

Aramco confirms scale of Ghawar and Safaniya, world's largest oil field and largest offshore field, respectively.

1961

Liquefied petroleum gas (LPG) - propane and butane - is first processed at Ras Tanura and shipped to customers.

1966

Tankers begin calling at "Sea Island", new offshore crude oil loading platform off Ras Tanura.

1973

Saudi Government acquires 25 percent interest in Aramco.

1975

Master Gas System project is launched.

1980

Saudi Government acquires 100 percent participation interest in Aramco, purchasing almost all of the company's assets.

1981

East-West Pipelines, built for Aramco natural gas liquids and crude oil, link Eastern Province fields with Yanbu on the Red Sea.

1982

Exploration and Petroleum Engineering Center (EXPEC) opens in Dhahran.

1984

Company acquires its first four supertankers.

1987

East-West Crude Oil Pipeline expansion project is completed, boosting capacity to 3.2 million barrels per day (bpd).

1988

Saudi Arabian Oil Company, or Saudi Aramco, is established.

1989

High-quality oil and gas are discovered south of Riyadh - the first find outside original operating area.

1991

Company plays major role combating Gulf oil spill, the world's largest.

1992

East-West Crude Oil Pipeline capacity is boosted to 5 million bpd. Saudi Aramco affiliate purchases 35 percent interest in SsangYong Oil Refining Company of the Republic of Korea.

1993

Saudi Aramco takes charge of Kingdom's domestic refining, marketing, distribution and joint-venture refining interests.

1994

Maximum sustained crude-oil production capacity is returned to 10 million bpd. Company acquires a 40 percent equity interest in Petron, largest refiner in the Philippines.

1995

Company completes a program to build 15 very large crude carriers. Saudi Aramco President and CEO Ali I. Al-Naimi is named the Kingdom's Minister of Petroleum and Mineral Resources.

Related Items
See also:

Main reference point:

Search:

Profile of Saudi Arabia

The Country Profile contains thousands of pages of information on every aspect of the Kingdom of Saudi Arabia, including its geography, history and development (political, economic and social).