Saudi Arabian Refineries Company
It was established in accordance with the Saudi Companies Law as a Saudi joint stock company and registered in Commercial Register No. 403003334 and dated 12/19/1379 AH corresponding to 06/14/1960AD.
The company's activities include:
1- Extracting crude oil and establishing refining stations, petrochemical plants and refineries.
2 - Dealing in securities in a correct manner.
3- Sale and purchase of land and real estate, its division and off-plan sale activities.
4- Management and leasing of owned or leased (non-residential) real estate.
What is an oil refinery?
Saudi Arabian Refineries Company, an oil refinery is an industrial facility that converts or refines crude oil into various usable petroleum products such as diesel, gasoline and heating oils. Oil refineries mainly serve as a second stage in the crude oil production process after the actual extraction of the crude oil flow, and refinery services are a downstream part of the oil and gas industry.
The first step in the refining process is distillation, whereby the crude oil is heated at extreme temperatures to separate the various hydrocarbons.
Understanding Oil Refineries
Saudi Arabian Refineries Company, Oil refineries play an important role in the production of transportation and other fuels. Crude oil components, once separated, can be sold to different industries for a wide variety of purposes. Lubricants can be sold to industrial facilities immediately after distillation, but other products require further refining before reaching the end user. Major refineries have the capacity to process hundreds of thousands of barrels of crude oil per day.
In industry, the refining process is commonly called the “downstream” sector, while crude oil production is known as the “upstream” sector. The term downstream relates to the concept that oil is sent down the product value chain to an oil refinery to be processed and converted into fuel. The downstream phase also includes the actual sale of petroleum products to other companies ، governments or individuals.
Subsidiaries or affiliates of the Saudi Arabian Refineries Company:
1.The Arab Sulfonate Company Ltd.
2.The Arab Company for Tanks Ltd.
3.Jeddah Petroleum Refinery Company.
4.Riyad Bank .
5.Saudi Industrial Investment Group.
6.Tabuk Cement Company.
Jeddah Petroleum Refinery Company
It is a petroleum refinery belonging to Saudi Aramco, located in the city of Jeddah. A refining capacity of 100,000 thousand barrels per day (16,000 m3 / day). It was closed on November 18, 2017, and its employees were transferred to other Aramco refineries.
Riyad Bank
The Saudi Arabian Refineries Company, is one of the largest financial institutions in the Kingdom of Saudi Arabia and the Middle East. It started its activities in the year 1957, and the capital is 30 billion Saudi riyals.
Saudi Industrial Investment Group
It is a Saudi joint stock company, established in Riyadh on the tenth of Sha’ban 1416 AH corresponding to the first of January 1996, the group’s capital today is four and a half billion riyals, the company’s shares were listed on the Saudi stock market in February of 2004.
Tabuk Cement Company
It is a Saudi joint stock company. The company was established on the twelfth of Safar 1415 AH corresponding to June 20, 1994 in the city of Tabuk in the Kingdom of Saudi Arabia. The capital of the company is nine hundred million riyals.
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