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Saudi Aramco Mobil Refinery
SAUDI BASIC INDUSTRIES CORPORATION (SABIC) AND ITS SUBSIDIARIES (A Saudi Joint Stock Company) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 AND INDEPENDENT AUDITOR’S REPORT SAUDI BASIC INDUSTRIES CORPORATION (SABIC) AND ITS SUBSIDIARIES (A Saudi Joint Stock Company) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 INDEX Pages Independent auditor’s report - Consolidated statement of financial position 7 – 8 Consolidated statement of income 9 Consolidated statement of comprehensive income 10 Consolidated statement of changes in equity 11 – 12 Consolidated statement of cash flows 13 – 14 Notes to the consolidated financial statements 15 – 108 SAUDI BASIC INDUSTRIES CORPORATION (SABIC) AND ITS SUBSIDIARIES (A Saudi Joint Stock Company) NOTES TO THE CONSOLIDATED STATEMENTS For the year ended 31 December 2018 (All amounts in Saudi Riyals ‘000 unless otherwise stated) 1. Corporate information Saudi Basic Industries Corporation (“SABIC” or “the Parent”) is a Saudi Joint Stock Company established pursuant to Royal Decree Number M/66 dated 13 Ramadan 1396H (corresponding to 6 September 1976) registered in Riyadh under commercial registration No. 1010010813 dated 14 Muharram 1397H (corresponding to 4 January 1977). SABIC is 70% owned by the Government of the Kingdom of Saudi Arabia (“KSA”) and 30% by the private sector. The registered office is located at Qurtubah district, P.O. Box 5101, Riyadh 11422, KSA. SABIC and its subsidiaries (collectively the “Group”) are engaged in manufacturing, marketing and distribution of chemicals, polymers, high performance plastics, agri-nutrients and metal products in global markets. The consolidated financial statements of the Group for the year ended 31 December 2018 were authorised for issue in accordance with a resolution of the Board of Directors on 12 March 2019. -
Saudi Aramco 2020 Results: Full Financials
Saudi Arabian Oil Company Consolidated financial statements forResilience the year ended December and agility 31, 2020 Annual Report 2020 01 Independent auditor’s report to the shareholders of Saudi Arabian Oil Company Report on the audit of the consolidated financial statements Our opinion In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of Saudi Arabian Oil Company (the “Company”) and its subsidiaries (together the “Group”) as at December 31, 2020, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards, that are endorsed in the Kingdom of Saudi Arabia, and other standards and pronouncements issued by the Saudi Organization for Certified Public Accountants (SOCPA). What we have audited The Group’s consolidated financial statements comprise: • the consolidated statement of income for the year ended December 31, 2020; • the consolidated statement of comprehensive income for the year ended December 31, 2020; • the consolidated balance sheet as at December 31, 2020; • the consolidated statement of changes in equity for the year ended December 31, 2020; • the consolidated statement of cash flows for the year ended December 31, 2020; and • the notes to the consolidated financial statements, which include significant accounting policies and other explanatory information. Basis for opinion We conducted our audit in accordance with International Standards on Auditing, that are endorsed in the Kingdom of Saudi Arabia. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the consolidated financial statements section of our report. -
Saudi Aramco Annual Report 2020 Has Certain Borrowings Where the Reference Rate Is Linked to LIBOR
ResilienceResilience andand agilityagility SaudiAnnual Aramco Report Annual 2020 Report 2020 Resilience and agility Aramco’s exceptional past belongs to its future. Our people define our success. Energy has been running in our DNA for generations. We are proud of what we accomplished during 2020. Once again, our resilience shone through. We delivered on our shareholder commitments. And we continued to deliver an uninterrupted supply of energy to the world. Our resilience and agility has built one of the world’s largest integrated energy and chemicals companies. And we are part of the global effort toward building a low carbon economy. Our horizon has never been clearer. This Annual Report covers financial and operational aspects of Aramco from January 1, 2020 to December 31, 2020, and is issued in both Arabic and English. The print version is identical to its PDF counterpart, which is available at aramco.com. The Arabic version prevails in the event of any discrepancy. The images in this document are representative of the services provided by Aramco. Some photos may have been taken prior to the COVID-19 pandemic. Wherever possible, sustainable printing techniques were used. 01 Contents Aramco Risk Chairman’s message ...................................06 Risk management........................................ 92 President and CEO’s foreword ...................08 Risk factors ...................................................94 History .......................................................... 10 1 2020 highlights ........................................... -
Implications for OPEC and Saudi Arabia? by Dr
02 Executive Summary 05 GIQ Industry Survey Golden Opportunities for Positive Disruption? 22 Power security? Get Creative 06 Ministerial Interview By Adam Sieminski, President, KAPSARC H.E. Khalid Al Falih, Minister of Energy, Industry & Mineral Resources, Kingdom of Saudi Arabia 24 Digital Excellence? Curate a New Culture By Michael Train, President, Emerson & 10 Leadership Insights Chairman, Emerson Automation Solutions How the 4th Industrial Revolution Toolbox can Propel the Saudi Vision 2030? 28 Energy Cybersecurity: Think Hackers Out of the Game By Ronnie Rahman, Director of Cyber Security, 14 CEO Insights Honeywell EMEA & APAC Digital Disruption & Integration of Downstream 4.0? 30 To Spur Saudi’s Innovative Spark – Collaborate 18 The Saudi Industrial Revolution 4.0 By Olof Arnman, General Manager, By Dr. Mohammed Al-Majed, Senior Advisor, Saudi Arabia & Bahrain, McDermott International Ministry of Energy, Industry & Mineral Resources, Kingdom of Saudi Arabia 32 Circular Economy: Why Should Energy Markets Care? By Mazin Albahkali, President & CEO, GE Power Services, 20 US Shale Revolution Part 2: Saudi Arabia & Bahrain Implications for OPEC and Saudi Arabia? By Dr. Anas Alhajji, Managing Partner, 36 List of participants Energy Outlook Advisors Insights brought to you by: Gulf Intelligence is a strategic communications and research firm effective across the full value-chain of the Middle East Energy Sector. We facilitate knowledge exchange and advance the business interests of national and international stakeholders operational in -
Our Offering Contents
Our offering Contents About Decision support Dispute Our team Z&Co. & advisory Regulatory Resolution Transactions CV's 01 02 03 04 05 06 25+ lawyers About Z&Co. Z&Co. is unique amongst Saudi Arabian law firms in having a true full service Saudi law offering carried on from within its local practice that covers litigation, regulatory and transactions/advisory matters to international law firm standards. Its head office in Riyadh, along with a smaller presence in Jeddah, together employ over 25 lawyers, including Saudi nationals at the junior, senior and partner levels. Overview dispute resolution We are a Saudi law firm offering market- We conduct pioneering work in our leading commercial advice on core legal regulatory product area, including advisory services including transactions; drafting new laws and regulations with transactions dispute resolution; decision-support substantial economic impact. In this field, and advisory for both government and we benefit from the complementary private sector clients; and regulatory skills held by our team of Saudi and projects (drafting laws and regulations). internationally-qualified lawyers, former members of the judiciary and Shariah For our transactions offering, we work experts. We particularly benefit from as one team with Linklaters, with senior the support of Linklaters offices around Core legal Linklaters lawyers based permanently the globe in conducting comparative advisory in our offices in Riyadh. This enables assessments, so that our locally-based services us to deliver provide best-practice internationally-qualified lawyers can international expertise coupled with extract global best-practice for new KSA detailed local knowledge and practice. laws and regulations. Our litigation lawyers are in and out of Our day-to-day decision-support and court on a daily basis, benefiting from advisory offering aims to share the load decision- close interactions with the judiciary in with in-house legal functions, whether support and the Commercial Courts, General Courts in the private sector or government entities. -
Board of Directors' Report 2020
Board of Directors’ Report 2020 Introduction Ladies and Gentlemen: Shareholders of Banque Saudi Fransi Greetings, Banque Saudi Fransi (BSF) Board members are pleased to present their annual board report for the fiscal year 2020. Banque Saudi Fransi is a Saudi Joint Stock Company established by Royal Decree No. M/23 dated Jumada Al Thani 17, 1397H (corresponding to June 4, 1977), after taking over the operations of the Banque de l’Indochine et de Suez in the Kingdom of Saudi Arabia. The Bank formally commenced its activities on Muharram 1, 1398H (corresponding to December 11, 1977). It operates under Commercial Registration Number. 1010073368 dated Safar 4, 1410H (corresponding to September 5, 1989), through its 87 branches in the Kingdom of Saudi Arabia, with 2,881 employees. The objective of the Bank is to provide a full range of banking services, including Islamic products and services, which are approved and supervised by an independent Shariah Board. The Bank’s Head Office is located at King Saud Road (AlMa’ather previously), AlMuraba’ District, P.O. Box 56006, Riyadh 11554, Kingdom of Saudi Arabia. Net income after Zakat and income tax for the 2020 financial year amounted to SAR 1,546 million compared to SAR 3,115 million in 2019. Net income decreased by 50.4% mainly due to higher impairment for financial assets (SAR 1,704m) and higher expenses (SAR 77m). Total operating income increased by 2.5% driven by net special commission income, exchange income, trading income and other operating income that was partially offset by a reduction in fee and commission income, gain on non-trading investments, and dividend income. -
Annual Report 2019 Report Annual Fransi Saudi Banque
Banque Saudi Fransi (BSF) is a Saudi Arabian Joint Stock Company established in 1977. BSF offers financial services in Corporate Banking, Retail Banking, Private Banking and Global Investing in Markets. The Bank also provides investment banking, asset management, investment the future funds and brokerage services through its Banque Saudi Fransi Annual Report 2019 subsidiary Saudi Fransi Capital. Banque Saudi Fransi Annual Report 2019 King Saud Road Po Box 56006 Riyadh 11554 Kingdom of Saudi Arabia WWW.ALFRANSI.COM.SA Highlights Profit before zakat and tax Revenue 6,873m Dividends per share 3,619m 3,532 3,619 3,307 6,576 6,799 6,873 2.0 2.0 1.7 1.4 2017 2018 2019 2017 2018 2019 Net Interest Margin 2017 2018 2019 Basic earnings per share* 3.04% 3.04% 2.85% 2.50% 2.60 Operating expenses (before provision) 2.69 2.60 2017 2018 2019 1.17 2017 2018 2019 2,287m 2,387 2,291 2,287 *After zakat and tax 2017 2018 2019 Strategic Corporate Financial Overview Report Governance Statements Contents Overview Strategic Report Highlights 1 MD & CEO’s Statement 8 Chairman’s Statement 2 Market Overview 12 At a Glance 4 Our Business 14 Our Strategy 16 Digital 20 Key Performance Indicators 22 Principle Risks 24 Business Review 28 Financial Review 43 Business Review continued 44 Our People 46 Our Corporate Social Responsibility 50 Corporate Governance Board of Directors 54 Executive Management 56 Board of Directors’ Report 2018 60 Financial Statements Independent Auditors’ Report 110 Consolidated Statement of Financial Position 114 Consolidated Statement of Income -
Saudi Aramco 2019 Results: Full Financials
this is energy this is aramco consolidated financial statements for the year ended December 31, 2019 1 Independent auditor’s report to the shareholders of Saudi Arabian Oil Company Report on the audit of the consolidated financial statements Our opinion In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of Saudi Arabian Oil Company (the “Company”) and its subsidiaries (together the “Group”) as at December 31, 2019, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards, that are endorsed in the Kingdom of Saudi Arabia, and other standards and pronouncements issued by the Saudi Organization for Certified Public Accountants (SOCPA). What we have audited The Group’s consolidated financial statements comprise: • the consolidated statement of income for the year ended December 31, 2019; • the consolidated statement of comprehensive income for the year ended December 31, 2019; • the consolidated balance sheet as at December 31, 2019; • the consolidated statement of changes in equity for the year ended December 31, 2019; • the consolidated statement of cash flows for the year ended December 31, 2019; and • the notes to the consolidated financial statements, which include a summary of significant accounting policies. Basis for opinion We conducted our audit in accordance with International Standards on Auditing, that are endorsed in the Kingdom of Saudi Arabia. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the consolidated financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. -
ANNUAL REPORT 2019 Realizing the Kingdom’S Vision for the Future
ANNUAL REPORT 2019 Realizing the Kingdom’s vision for the future CONTENT CHAIRMAN'S MESSAGE 04 CEO'S MESSAGE 06 SHAREHOLDERS 08 BOARD OF DIRECTORS 12 MANDATE & VALUES 14 INVESTMENT THESIS 16 SECTORIAL FOCUS 18 INDUSTRIAL METALS 20 DOWNSTREAM CHEMICALS 22 AUTOMOTIVE 24 POWER 26 INVESTMENT PORTFOLIO 28 ANNEX 32 GOVERNANCE 34 FINANCIAL STATEMENTS 44 DUSSUR ANNUAL REPORT 2019 1 KING SALMAN BIN ABDULAZIZ AL-SAUD HIS ROYAL HIGHNESS PRINCE MOHAMMED BIN SALMAN BIN ABDULAZIZ AL-SAUD The Custodian of the Two Holy Mosques Crown Prince, Deputy Prime Minister and Minister of Defense of the Kingdom of Saudi Arabia 2 DUSSUR ANNUAL REPORT 2019 3 CHAIRMAN’S MESSAGE During 2019, the Kingdom of Saudi This approach stems from our conviction Despite its short tenure, Dussur has Although this pandemic created Arabia made tangible progress and belief that such sectors will have developed significantly since its numerous challenges in the business towards realizing its vision of building the utmost impact in supporting and inception, giving us an exemplary and environment, it also presents new a diversified and flourishing economy. enabling transformative industries in unique operating model. This is evident opportunities which we intend to Moreover, Dussur has worked - since the Kingdom. in our highly capable management team carefully study and take advantage of its inception - towards being a key with extensive knowledge and experience through intelligent and coordinated contributor to this vision. Since its During 2019, Dussur was successful in in the industrial -
STRATEGIC SAUDI ARABIA UPDATE • Strategic Analysis • Insight News
12 July 2017 Volume 1, Week 26 + 27 STRATEGIC SAUDI ARABIA UPDATE • Strategic Analysis • Insight News www.verocy.com SAUDI ARABIA STRATEGIC UPDATE Volume 1, Week 26 + 27 12 July 2017 STRATEGIC ANALYSIS .............................................................................................. 2 Saudi Arabia opens up military deals Russia ................................................................... 2 Russian LNG targeted by Aramco ................................................................................... 3 Saudi internal discussions to change OPEC cut strategy? ................................................ 4 OPEC exports under pressure. Saudi Manifa problem sign of troubles? ........................... 6 STRATEGIC INSIGHT NEWS ...................................................................................... 9 Saipem awarded contracts, change orders in Saudi Arabia, West Africa and Caspian Sea ............................................................................................................................... 10 Is Saudi Arabia Depending Too Much On The Ghawar Field? ........................................ 10 130% spike in Saudi women joining workforce; 11.1 million expats in private sector ...... 12 Saudi Arabian soldier killed, three wounded in explosion: state media ...........................13 Schneider Electric appoints new Country President for Saudi Arabia and Yemen ...........13 Saudi KACST to set up 600 more companies to provide 3,600 jobs ................................13 Aramco, Dussur, -
Saudi Aramco
this is energy this is aramco saudi aramco annual report 2019 A category all our own Saudi Aramco is the world’s largest integrated oil and gas company, producing the energy and chemicals that drive global commerce and enhance the daily lives of people around the globe. From our proven upstream capabilities and our strategically integrated global downstream network, to our focus on technology and sustainability, we have created value that places us in a category all our own. Our behavior is what defines us – as a company, as employees, as people. Everything we do is anchored by our corporate values: excellence, safety, citizenship, integrity and accountability. Reporting period and boundary The financial and operational aspects of Saudi Aramco are covered in this Annual Report. The Annual Report covers the period from January 1, 2019 to December 31, 2019 and has been issued in both Arabic and English. In the event of any discrepancy, the Arabic version shall prevail. The print version of the Annual Report is identical to its PDF counterpart, which is available on the Company’s website at saudiaramco.com. contents 1 Saudi Aramco 6 Corporate governance 06 Chairman’s message 108 Board of Directors 08 President and CEO’s foreword 112 Senior Executives 10 History 114 Board structure and composition 12 2019 highlights 116 Audit Committee report 14 Saudi Aramco’s operations 118 Risk and HSE Committee report 18 Business model 119 Nomination Committee statement 120 Compensation Committee statement 121 Compensation and other interests Business overview -
Saudi Arabia Visit of President Trump
SAUDI ARABIA and the VISIT OF PRESIDENT TRUMP JUNE 2017 REPORT 2017 REPORT SAUDI ARABIA AND THE VISIT OF PRESIDENT TRUMP 2 SAUDI ARABIA AND THE VISIT OF PRESIDENT TRUMP 2017 REPORT Contents — 01 Riyadh 2017: Three Summits, One Vision Overview: Together We Prevail 5 Remarks by King Salman bin Abdulaziz to the 10 Arab Islamic American Summit 02 U.S.-Saudi Bilateral Summit Overview: Major Agreements on Counterterrorism and Trade 17 Joint Statement Between the Kingdom of Saudi Arabia 21 and the United States of America 03 Gulf Cooperation Council Summit Overview: Gulf Nations Come Together to Combat Terrorism 27 and Extremism U.S. and Saudi Arabia to Co-Chair New Terrorist Financing 31 Targeting Center Statement of Extraordinary Summit of the Gulf Cooperation 35 Council and the United States of America 04 Global Center for Combatting Extremist Ideology Saudi Arabia Launches High-Tech Center to Combat Extremism 41 05 Arab Islamic American Summit Overview: King Salman and President Trump Address Arab 47 and Muslim Leaders President Trump’s Speech to the Arab Islamic American Summit 52 06 Appendix: Major Economic Agreements Announced at Riyadh 2017 64 3 2017 REPORT SAUDI ARABIA AND THE VISIT OF PRESIDENT TRUMP 4 SAUDI ARABIA AND THE VISIT OF PRESIDENT TRUMP 2017 REPORT 01 — Riyadh 2017: Three Summits, One Vision Overview: Together, We Prevail The inaugural overseas trip of U.S. President Donald Trump to the Kingdom of Saudi Arabia on May 20-22, 2017, achieved substantial success in its stated mission to strengthen the security and commercial ties of the two countries.