From the deserts of Arabia to the top of the global energy market 🏜️➡️🌍 Saudi Aramco is the largest energy company in the world, and one of the most valuable companies on Earth, with a market capitalization of around $1.6 trillion. 💰 As the national oil company of Saudi Arabia, Aramco produces over 10% of the world’s crude oil, powering everything from cars and factories to global economies. ⛽️⚙️ Born in 1932 as a concession project to SoCal (Standard Oil of California), Aramco evolved into a
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From the deserts of Arabia to the top of the global energy market 🏜️…
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TikTokmoneytalkslb
“In the late 70s Saudi Arabia cut off our oil and we were in dire straits. You would line up almost a mile long just to get five gallons of gas because there wasn’t any. After that we created the strategic oil reserve so nobody could hold us hostage like that again. Then we went to Saudi Arabia and paid to build their wells and refineries and loaned them money, and in return they agreed to sell oil only in U.S. dollars for the next fifty years. When that agreement ran out, they started talking a
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“In the late 70s Saudi Arabia cut off our oil and we were in dire straits. …
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Tensions between the U.S. and Iran have sent oil prices surging after an attack on a Saudi oil facility over the weekend. U.S. officials are blaming Iran for the attack, but Iran has denied involvement. 📰 Read more: https://trib.al/oU7DvQI | NPR
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