Saudi-based "Aramco" company wants to invest in setting up an oil refinery in Bangladesh!

If it is possible to establish this oil refinery with Saudi Arabia's own investment, it will be able to play an important role in the production of petroleum products for Bangladesh and the region in the near future. Moreover, in addition to meeting the domestic needs of Bangladesh, it can create major opportunities such as exporting fuel oil to the international market. He said that such an oil refinery will be able to have a positive impact on the Bay of Bengal region. Currently, the best and 6th top local company in the world is Saudi Arabia's crude oil production and marketing company "Aramco".

According to the information provided by the Companies Market Cap website, the market capital value of Aramco company is 1.794 trillion US dollars as of January 2025. And in terms of market capitalization, Saudi Aramco has currently become the sixth most valuable company in the world. Although at the end of 2021, their market capital value was about 2.4 trillion dollars.  Oil prices have skyrocketed due to the increase in demand for fuel oil in the international market, mainly due to Russia's terrible military aggression in Ukraine and the Corona period.

The latest financial report published by the Saudi-based Aramco company shows that in 2024, the company earned a revenue of $ 488.98 billion for the whole year. Which was $ 495.34 billion in 2023 and $ 604.17 billion in 2022. Moreover, in the third quarter of 2024, it earned a net profit of $ 27.6 billion and in the third quarter of 2023, the net profit was $ 32.6 billion. And "Aramco" earned a record net profit of $ 109.385 billion in 2021.

Amidst the extreme instability in the global oil market due to the ongoing Ukraine-Russia war since February 2022, "Aramco" has been continuously exporting crude petroleum products and gas to the international market, earning billions of dollars. Although their export income has decreased somewhat proportionally since the beginning of 2024 due to the global recession. However, this state-owned oil and gas producing company of Saudi Arabia has maintained a major influence and importance in the export of petroleum products at the international level.

Founded 91 years ago in 1933, the headquarters of Aramco Company is located in Dhahran, Saudi Arabia. They have the second largest proven crude oil and gas reserves in the world. According to Wikipedia, the amount of oil may be approximately 270 billion barrels and in addition, the gas reserves may be about 288.4 million standard cubic feet. Moreover, the company's total oil production in 2024 was an average of 12.7 million barrels per day.  Their total assets are estimated at $660.784 billion as of 2023.

Even in the current global recession, China and India, the world's leading oil importers, continue to import large amounts of crude oil from Russia as well as Saudi Arabia. In particular, despite the extremely hostile relations between China and India for the past five decades, these two countries have long-term economic and diplomatic relations with Saudi Arabia. Moreover, Saudi Arabia's Mohammed bin Salman, despite strong objections from the United States, has placed special emphasis on storing China's own strong currency, the yuan, and the Russian currency, the ruble, as foreign exchange reserves in addition to the dollar. 

References: Aramco, Wikipedia, Companies Market Cap.