Saudi Aramco (formerly Arabian-American Oil Business) is a publicly listed petroleum and natural gas business headquartered in Dhahran, Saudi Arabia, know its revenue, net income and F1 sponsorship
By 2022, it is expected to be one of the most profitable corporations on the planet. With over 270 billion barrels (43 billion cubic metres) of known crude oil reserves, Saudi Aramco has the world’s second-largest daily oil production of any oil-producing firm.
Saudi Arabia Aramco Revenue, Net Income, CEO, Headquarters And F1 2022 Sponsorship
| Type | State-owned enterprise |
| Industry | Oil and gas |
| Founded | 29 May 1933; 88 years ago |
| Headquarters | Dhahran, Saudi Arabia |
| Area served | Worldwide |
| Key people | Amin H. Nasser (President & CEO) |
| Yasir Al-Rumayyan, (Chairman) | |
| Products | Petroleum |
| Natural gas | |
| Petrochemical derivatives | |
| Revenue | US$229.9 billion |
| Operating income | US$102.3 billion |
| Net income | US$49.0 billion |
| Total assets | US$510.4 billion |
| Total equity and net worth | US$264.2 billion |
| Owner | Government of Saudi Arabia (98.5%) |
Saudi Aramco To Sponsor F1
Saudi Aramco, one of the world’s largest oil and gas firms, has become a tier one Formula 1 sponsorship partner, which is mostly old news.
The entrance into the sport by the mostly state-owned oil firm, widely regarded as the world’s most lucrative (not only oil) corporation, is the Saudi company’s first worldwide sponsorship contract.
Formula 1 has signed a $450 million partnership with Saudi Aramco.
Profit For Formula 1
According to MotorsportWeek.com, Formula One will profit between $42 million and $51 million each year throughout the length of the ten-year contract. Furthermore, the agreement was negotiated by CAA Sports, F1’s exclusive sports marketing firm located in Los Angeles.
While Aramco was represented by various business officials as well as a domestic Saudi sports agency, F1’s CEO Chase Carey was alone and in the spotlight during the 15-month courtship period.
Despite the fact that the sponsorship agreement does not fall under one of F1’s current partnership
Aramco obtained the title rights to the US, Hungarian, and previously postponed Spanish Grands Prix in 2020 as part of the worldwide package — the races had been arranged upon before to the current Covid-19 global epidemic. The agreement also covers F1’s customary trackside branding at most Grands Prix, as well as brand integrations throughout the sport’s many platforms.
Aramco’s Intension
It is believed that the decision to sponsor Formula 1 was motivated largely by a desire to boost the global awareness of the name “Aramco.” Brand recognition is one of the goals, which will be achieved by utilising F1’s worldwide broadcast audience, which will result in fan interaction via F1’s own social and digital channels. The addition of business-to-business entertainment and trackside hospitality to the package didn’t hurt either!
Aramco has long-term plans for overseas investment, and as previously stated, last year’s IPO, in which the corporation sought to float 5% of its stock, failed from the start. In the end, the corporation had to settle with selling only 1.5 percent of its stock on the Tadawul Stock Exchange in Saudi Arabia.
Under Chase Carey’s leadership, this is also the first new “Formula 1 Global Partner” arrangement.
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