Case study of the Saudi Aramco Company
The Saudi Aramco company is the Government-owned company in Saudi Arabia and the biggest oil company in the world. The company is headquartered in Dhahran. The roots of the Saudi Aramco company can be traced back in 1933, a time when the Saudi government granted oil exploration rights to the Standard Oil Company of California (Socal) through a signed oil concession agreement. Later in the same year, a subsidiary company by the name California Arabian Standard Oil Company (Casoc) was created to manage the concession. The company’s search for oil reserves was repeatedly done, and drilling was done for five years to no avail until 1938 when the company finally struck ‘black Gold. ' This was commercial quantities …show more content…
It is also the fourth largest producer of natural gas reserves of 288.4 trillion cubic feet. It is an energy and Chemicals Company in Saudi Arabia. The Oil Company is engaged in exploration, production, refining, distribution, shipping and marketing of hydrocarbons. It also produces petrochemical products and produces and exports crude oil and natural gas liquids. Aramco Company says that in every eight barrels produced all over the world, one barrel comes from its production. It pumps about 10.3 million barrels daily which is more than twice the production of its closest competitor, Rosneft, a Russia’s government-owned producer. In terms of oil reserves, Aramco says it has reserved 261 billion barrels which is more than enough for exploitation of one year ahead. Accounting for that reserve, it is more than all reserves of North America’s oil. According to BP’s report on oil statistics, it is estimated that Saudi Arabia has more than 267 billion barrels in reserves which is about 26% of the global total, but Rystad Energy’s Nysveen says, “Saudi Arabia’s official estimates are overstated”. He further says that “it might be 267 billion barrels of oil in the ground, but it is impossible to prove according to agreed regulations” (Al Mallakh and Mallakh,2015). However, the figure cannot be far from reality, and that explains that the Aramco Company is big and very …show more content…
It is the ability to observe other’s and one’s own emotions, to discriminate among them, and use the information to direct one’s thinking and actions (Cherniss, C., & Goleman, 2001). Emotional Intelligence has certain key dimensions namely: self-awareness, self-management, social awareness and relationship management (Brackett, Rivers, and Salovey, 2011). Self-awareness is understanding one’s own emotions which allows one to understand his or her strengths, weaknesses, values and motives. This allows them to have high self-management which enables them to understand their moods and how they affect others, understand their influence and take control. Self-motivation is being able to pursue goals that are beyond the requirements. People with high self-motivation harnesses their behaviors and influence others by setting challenging goals to improve performance. Their motive is driven by success rather than fear. Social awareness is the ability to be sensitive to other people’s feelings, thoughts and situations. It comprises understanding people situation and knowing their needs before stating them and taking a step to show them you care. Relational managements are guiding other people’s emotions through inspiring them, influencing and developing their capabilities. It requires communicating effectively to people about a purpose and influencing them. Emotional intelligence is,
The Saudi Aramco company is the Government-owned company in Saudi Arabia and the biggest oil company in the world. The company is headquartered in Dhahran. The roots of the Saudi Aramco company can be traced back in 1933, a time when the Saudi government granted oil exploration rights to the Standard Oil Company of California (Socal) through a signed oil concession agreement. Later in the same year, a subsidiary company by the name California Arabian Standard Oil Company (Casoc) was created to manage the concession. The company’s search for oil reserves was repeatedly done, and drilling was done for five years to no avail until 1938 when the company finally struck ‘black Gold. ' This was commercial quantities …show more content…
It is also the fourth largest producer of natural gas reserves of 288.4 trillion cubic feet. It is an energy and Chemicals Company in Saudi Arabia. The Oil Company is engaged in exploration, production, refining, distribution, shipping and marketing of hydrocarbons. It also produces petrochemical products and produces and exports crude oil and natural gas liquids. Aramco Company says that in every eight barrels produced all over the world, one barrel comes from its production. It pumps about 10.3 million barrels daily which is more than twice the production of its closest competitor, Rosneft, a Russia’s government-owned producer. In terms of oil reserves, Aramco says it has reserved 261 billion barrels which is more than enough for exploitation of one year ahead. Accounting for that reserve, it is more than all reserves of North America’s oil. According to BP’s report on oil statistics, it is estimated that Saudi Arabia has more than 267 billion barrels in reserves which is about 26% of the global total, but Rystad Energy’s Nysveen says, “Saudi Arabia’s official estimates are overstated”. He further says that “it might be 267 billion barrels of oil in the ground, but it is impossible to prove according to agreed regulations” (Al Mallakh and Mallakh,2015). However, the figure cannot be far from reality, and that explains that the Aramco Company is big and very …show more content…
It is the ability to observe other’s and one’s own emotions, to discriminate among them, and use the information to direct one’s thinking and actions (Cherniss, C., & Goleman, 2001). Emotional Intelligence has certain key dimensions namely: self-awareness, self-management, social awareness and relationship management (Brackett, Rivers, and Salovey, 2011). Self-awareness is understanding one’s own emotions which allows one to understand his or her strengths, weaknesses, values and motives. This allows them to have high self-management which enables them to understand their moods and how they affect others, understand their influence and take control. Self-motivation is being able to pursue goals that are beyond the requirements. People with high self-motivation harnesses their behaviors and influence others by setting challenging goals to improve performance. Their motive is driven by success rather than fear. Social awareness is the ability to be sensitive to other people’s feelings, thoughts and situations. It comprises understanding people situation and knowing their needs before stating them and taking a step to show them you care. Relational managements are guiding other people’s emotions through inspiring them, influencing and developing their capabilities. It requires communicating effectively to people about a purpose and influencing them. Emotional intelligence is,