Saudi Aramco releases 2019 financial results

Saudi Aramco releases 2019 financial results

In 2019, the company remained one of the world's largest producers of crude oil and condensate with an average total hydrocarbon production of 13.2 million barrels per day of oil equivalent.. Saudi Aramco's total 2019 hydrocarbon reserves under the concession agreement were 258.6 billion barrels of oil equivalent (boe), compared to 256.9 billion boe in 2018.. Saudi Aramco entered into a share purchase agreement last year to acquire the Public Investment Fund's 70% equity interest in SABIC, one of the world's largest chemicals companies, for $69.1 billion.. In February 2020, the company received regulatory approval for the development of the Jafurah unconventional gas field in the Eastern Province..