This section contains 613 words (approx. 2 pages at 400 words per page) |
Saudi Arabia
The kingdom of Saudi Arabia was established in 1902, when Abdul Aziz (aka King Ibn Saud) and a large army of warriors recaptured the city of Riyadh. The kingdom was a small, relatively obscure nation, until oil was discovered in the 1930s. The discovery of oil brings Saudi Arabia international prominence and provides an enormous economic boost to the relatively poor country. By 1970, Saudi Arabia is the most important oil-producing country in the world.
Aramco
In 1940, Standard Oil of California (SOCAL) launches a huge oil exploration campaign in Saudi Arabia. Due to the expense, SOCAL brings in three industry partners. Originally called the California Arabian Standard Oil Company, the name was changed to Arabian America Oil Company (Aramco) in 1944 to reflect the partnership between four major United States oil companies. These four, Exxon, Mobil, Chevron and Texaco were the sole owners of Aramco, until the Saudi Arabian...
This section contains 613 words (approx. 2 pages at 400 words per page) |