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In January 2016 the Deputy Crown Prince of Saudi Arabia, Mohammad bin Salman Al Saud, announced he was considering listing shares of the state-owned company, and selling around 5% of them in order to build a large sovereign fund.Computer security specialists said that "The attack, known as Shamoon, is said to have hit "at least one organization" in the sector.On , the Saudi Arabian government granted a concession to So Cal in preference to a rival bid from the Iraq Petroleum Co..
In 1936, with the company having had no success at locating oil, the Texas Oil Co. A similar process had taken place with American oil companies in Venezuela a few years earlier.Standard Oil of California (So Cal) was among those US companies seeking new sources of oil from abroad.Through its subsidiary company, the Bahrain Petroleum Co. This event heightened interest in the oil prospects of the Arabian mainland.Shamoon is capable of wiping files and rendering several computers on a network unusable." Saudi Aramco is headquartered in Dhahran, but its operations span the globe and include exploration, production, refining, chemicals, distribution and marketing.
All these activities of the company are monitored by the Saudi Arabian Ministry of Petroleum and Mineral Resources together with the Supreme Council for Petroleum and Minerals.
Therefore, on 1 July 1993, the government issued a royal decree merging Saudi Aramco with Samarec, the country's oil refining company.