ARAMCO OVERSEAS COMPANY
Aramco Overseas Company B.V. (AOC) is a subsidiary of Saudi Aramco, one of the world's leading integrated energy and chemicals companies. Saudi Aramco is renowned for its extensive involvement in the exploration, production, refining, distribution, shipping, and marketing of petroleum and petrochemical products.
Key Facts about Aramco Overseas Company:
Establishment and Location:
- AOC was established to support Saudi Aramco's network of global operations. The company is headquartered in The Hague, Netherlands, providing a strategic location for facilitating international business and logistics.
Role and Functions:
- Supply Chain Management: AOC plays a critical role in ensuring the efficient execution of supply chain activities. This includes the sourcing, procurement, and logistics of materials and services essential for Saudi Aramco’s operations.
- Technology and Innovation: The subsidiary is involved in technology scouting and innovation, helping to identify and integrate advanced technologies into Saudi Aramco’s operations.
- Corporate Services: AOC offers a range of corporate support services, including financial, administrative, and human resources functions to its parent company and affiliates around the world.
- Investment Management: Managing investments and partnerships in ventures that align with Saudi Aramco's strategic goals, particularly in Europe.
Strategic Importance:
- AOC serves as a vital link between Saudi Aramco’s headquarters in Dhahran, Saudi Arabia, and its extensive global network. This connectivity helps streamline international operations and enhances collaboration with suppliers and partners.
Sustainability and Corporate Responsibility:
- As part of Saudi Aramco’s commitment to sustainability, AOC adheres to high environmental and corporate social responsibility standards. This includes initiatives aimed at reducing environmental impact and promoting sustainable business practices.
Diverse Workforce:
- Aramco Overseas Company employs a diverse workforce, with professionals from various fields including engineering, finance, procurement, logistics, and technology. This diversity supports the subsidiary's multifaceted role in supporting the global operations of Saudi Aramco.
Innovation Hubs:
- AOC often collaborates with technology companies and research institutions in Europe to stay on the cutting edge of energy and chemical industry innovations. These partnerships help drive advancements in areas like energy efficiency, renewable energy, and advanced materials.
Overall, Aramco Overseas Company B.V. is an integral extension of Saudi Aramco’s global footprint, enhancing its ability to operate efficiently and innovate effectively on an international scale.
Ships
QATIF
Offshore Support Vessel | Flag: Kingdom of Saudi Arabia | Port: DAMMAM
Maritime News
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KIMM Cracks the Code for Underwater Radiated Noise Prediction
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ADES' Jack-Up Barge Capsizes off Egypt Killing Four, Three Still Missing
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BHP Signs Charter Contracts with COSCO for Two Ammonia Dual-Fueled Vessels
Australia’s BHP Group has signed contracts with COSCO Shipping Bulk, a subsidiary of COSCO Shipping, for the charter of two ammonia dual-fueled Newcastlemax bulk carriers.The new vessels to be built under the arrangement will be two of only a handful of vessels in the world capable of using ammonia as a marine fuel.The two vessels, expected to be delivered from 2028, will primarily transport iron ore from Western Australia to Northeast Asia.When run on lower or low to zero greenhouse gas (GHG) emissions ammonia, these vessels will be capable of reducing GHG emissions by at least 50% and up to 95% on a per voyage basis compared to a conventionally fueled voyage, according to BHP.
ESG Wins Bid to Build Washington State Hybrid Electric Ferries
Washington Governor Bob Ferguson announced he has selected the $714.5 million bid from Florida-based Eastern Shipbuilding Group to build three new 160-vehicle hybrid-electric ferries. “We’re restoring domestic service to pre-pandemic levels years ahead of schedule, improving crew retention, and soon will bring our first hybrid-electric vessel into service,” Governor Ferguson said. “After careful consideration and conversations with legislative leaders, I believe Eastern is the best option to build these critically important vessels at a fair cost to our taxpayers.