The development history of this brand is very complicated. In the second year of the founding of Saudi Arabia 1932, SOCAL, an American standard oil company, came to persuade Saudi Arabia to conduct oil exploration and established CASOC (the predecessor of Aramco).
It was not until 1980 that Aramco was nationalized by Saudi Arabia 100%, ending American oil control. However, the brand name of "Saudi Aramco" has been retained by the government, which is also a comment on this oil history.
1973, the Saudi Arabian government bought 25% of Amoco's shares, which increased to 60% before 1974, and finally took full control of Amoco in 1980. 1988165438+1October, the company changed its name to SaudiArabianOilCompany.
Development history:
Saudi Aramco was founded on May 29th, 1933, when the Saudi Arabian government signed a concession agreement with Socal Standard Oil Company, allowing it to conduct oil exploration in Saudi Arabia. California Standard Oil Company transferred the agreement to its subsidiary, California Arabian Standard Oil Company (Casoc). 1936 Company failed to explore for oil, and Dezhou Petroleum Company obtained 50% equity in the concession agreement.
After four years of exploration, oil was not found successfully. Oil was first discovered in Dalan City in 1938, and the well was named Dammam 7. The discovery of this well gives the company hope to continue exploration and prosperity in the future.
1948, Standard Oil Company of New Jersey (predecessor of Exxon Oil Company) and SoconyVacuum (predecessor of Mobil Oil Company) purchased 30% and 10% shares of Amoco Oil Company respectively, while Standard Oil Company of California and Texas Oil Company only had 30% shares left.