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Saudi Complete Domination of Aramco | ||
| The Arab Gulf | ||
| Article 5, Volume 9, Issue 1, 2009, Pages 60-78 PDF (0 K) | ||
| Author | ||
| Dr. Salma Adnan Alkibasi | ||
| Abstract | ||
| Saudi Arabia occupies an advanced place in American foreign policy since 1933. This American concern is basically due to American Oil Companies when king Abdulaziz Al saud gave the concession of Saudi Oil to Standard Oil Company of California in the 29th of may 1933,which is , later, known as Aramco. since that time ,the company had the right of .drilling , production and marketing of Saudi oil .Saudi oil companies represented by Aramco was authorized to fix Saudi oil price. With the beginning of the seventies , the kingdom regained its national fortune after long series of negotiations with Aramco . The four-years negotiations ended with giving 40% of company shares to the kingdom .Another series of negotiations extended over six years (1974-1980) to sign a final agreement concerning the company's property Which was settled to the Saudi side. But the framework of Aramco as National Saudi establishment was not settled until the beginning of 1983 | ||
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