Saudi Aramco`s Al-Falih speaks at Oxford Energy Seminar

Oxford, U.K., August 15, SPA -- Saudi Aramco's President and CEO
Khalid A. Al-Falih has highlighted the company's dynamic role in
national, international and organizational perspectives in a changing
world.

In a keynote address at the 31st Oxford Energy Seminar at St.
Catherine’s College held recently, he focused on “Saudi Aramco in a
Changing World: The International, National and Organizational
Context.”

Al-Falih clearly laid the groundwork by enumerating the company’s
roles: the world’s largest producer and exporter of crude oil; a
world-scale producer and processor of natural gas; a “major and
still-growing player in refining,” and, more recently, a player in
the petrochemicals industry through in-Kingdom and overseas joint
ventures.

“Saudi Aramco’s activities,” he said, “cover the whole globe and
span the entire petroleum value chain, from reservoir to petrol pump
and petrochemical plant — and everything in between.”

Saudi Aramco is a global enterprise, yes, but its importance at
home, in Saudi Arabia, must not be understated. “It is the sole
supplier of petroleum energy — the Kingdom’s primary competitive
advantage — to vital domestic industries, utilities, business
enterprises and individual consumers,” he said. But on top of that,
while contributing to the Kingdom through corporate social
responsibility, “We pay as much attention to fiscal discipline and
our bottom line as any of the multinationals.”

These three facets are interrelated and balanced in a “tripod”
concept. Prospective investments that help the local economy and
society, help the company meet its obligations to supply energy to
the world, and are commercially attractive meet the tripod test.

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