(Mt) – MGT 321 Saudi Electronic University International Business Worksheet

View attached explanation and answer. Let me know if you have any questions.Surname 1OutlineStudent’s NameProfessorCourseDateTopic: Saudi Arabian Oil Company (Saudi Aramco) ReportThesis Statement: Saudi Aramco has achieved consistent profitability through efficientand cost-effective operations, high-quality production, and well-positioned strategic investments,and is actively engaged in diversifying its business and investing in new technologies to remaincompetitive in an ever-changing industry landscape.Introduction:Saudi Aramco was established in 1933 as the California Arabian Standard Oil Company(Casoc) by Standard Oil of California and the Texas Oil Company. In 1988, the company wasrenamed Saudi Aramco after the Kingdom of Saudi Arabia purchased a majority stake (Grimaldi,2020). Saudi Aramco is the world’s largest oil producer, producing 13% of the world’s total crudeoil production and controlling over 260 billion barrels of proven oil reserves. It is a state-ownedcompany of the Kingdom of Saudi Arabia and the world’s largest oil company by production andreserves. Saudi Aramco is headquartered in Dhahran, Saudi Arabia, and operates all of thecountry’s oil and gas production and transportation, as well as refining, distribution, andmarketing (Czuzak, 2021).Surname 2BodyI.Question 1A. Saudi Aramco was established in 1933 as the California Arabian Standard OilCompany (Casoc) by Standard Oil of California and the Texas Oil Company. In1988, the company was renamed Saudi Aramco after the Kingdom of Saudi Arabiapurchased a majority stake (Grimaldi, 2020). Saudi Aramco is the world’s largest oilproducer, producing 13% of the world’s total crude oil production and controllingover 260 billion barrels of proven oil reserves.B. In 2019, the company reported a net income of $111 billion, making it one of themost profitable companies in the world. This is in part due to the company’s efficientand cost-effective operations, as well as its high-quality production.C. In 2016, the company announced a $2 billion investment in renewable energy and isnow one of the largest investors in the renewable energy sector.II.Question 2A. Strengths:The largest oil firm in the world, Saudi Aramco, is the most significant oilcorporation in terms of output and reserves. As a result, it maintains a dominantposition in the industry and possesses significant bargaining power in the global oilmarket.B. WeaknessDependence on Oil: Oil is the lifeblood of Saudi Aramco, and the company hasinvested heavily in the industry over the years. The company is heavily reliant onSurname 3oil and is vulnerable to price volatility and other external forces that can affect theglobal oil marketC. Opportunity:Expansion in new business lines: Saudi Aramco can expand its operations intonew markets and explore new business lines such as oil and gas exploration,petrochemical production, refining, power and energy generation, transportation,storage, and distribution.D. ThreatsCyber Security Threats: Cyber security threats are a significant concern for SaudiAramco, as the company manages a huge volume of sensitive data and is at riskfor potential attacks from hackers.III.Question 3A. Political Challenges:Saudi Aramco operates in a challenging political environment in Saudi Arabia.The Saudi government maintains tight control over the country’s energy sectorand is highly sensitive to any perceived threats to its security or economicinterests.B. Economic challengesLow oil prices: Saudi Aramco relies heavily on oil prices for its income. As oil priceshave fallen globally, Saudi Aramco’s income has been adversely affected.C. Cultural challengesSurname 4Saudi Aramco is facing a variety of cultural challenges in Saudi Arabia. These challengesstem from the country’s long history of conservatism and traditionalism, which thegovernment’s policy of Wahhabism has further reinforced.Saudi Arabian Oil Company (Saudi Aramco) ReportStudent’s NameInstitutionQuestion 1IntroductionSaudi Aramco was established in 1933 as the California Arabian Standard Oil Company(Casoc) by Standard Oil of California and the Texas Oil Company. In 1988, the company wasrenamed Saudi Aramco after the Kingdom of Saudi Arabia purchased a majority stake (Grimaldi,2020). Saudi Aramco is the world’s largest oil producer, producing 13% of the world’s total crudeoil production and controlling over 260 billion barrels of proven oil reserves. It is a state-ownedcompany of the Kingdom of Saudi Arabia and the world’s largest oil company by production andreserves. Saudi Aramco is headquartered in Dhahran, Saudi Arabia, and operates all of thecountry’s oil and gas production and transportation, as well as refining, distribution, andmarketing (Czuzak, 2021). It is also involved in exploration and production activities outside ofSaudi Arabia, as well as research and development. The company has a strong focus onsustainability and environmental protection.Saudi Aramco’s operations have been consistently profitable, with strong financialperformance. In 2019, the company reported a net income of $111 billion, making it one of themost profitable companies in the world. This is in part due to the company’s efficient and costeffective operations, as well as its high-quality production. Additionally, the company is wellpositioned to benefit from the growing demand for oil and gas in the Middle East.The company is also engaged in several initiatives to diversify its business, includinginvesting in renewable energy sources. In 2016, the company announced a $2 billion investmentin renewable energy and is now one of the largest investors in the renewable energy sector. Thisdiversification strategy is expected to help the company remain competitive as the worldtransitions from fossil fuels (Czuzak, 2021). In addition to its oil and gas activities, SaudiAramco is also involved in several other businesses, including refining and petrochemicals,shipping and logistics, and engineering and construction. The company is also investing in newtechnologies, such as artificial intelligence and automation, to improve its operations andincrease efficiency.Saudi Aramco has achieved consistent profitability through efficient and cost-effectiveoperations, high-quality production, and well-positioned strategic investments. The company iswell poised to capitalize on the increasing demand for oil and gas in the Middle East and isinvesting in renewable energy sources to ensure long-term sustainability (Donnelly & Whitfield,2020). In addition, Saudi Aramco is actively engaged in refining, petrochemicals, shipping,logistics, engineering, and construction. It invests in new technologies, such as artificialintelligence and automation, to improve its operations and remain competitive in a changingindustry landscape.ConclusionOverall, Saudi Aramco is an extraord…

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