Business Model
Capturing value across the hydrobarbon chain
Operations
Inputs
251.2
Total hydrocarbon reserves1
(billion boe)
12.0
Maximum Sustainable Capacity
(mmbpd)
Outcomes and impacts
Products produced
- Cruide oil
- Gas
- NGL
- Condensate
- Refined products
- Chemicals
- Base oils and lubricants
- Electricity
- Blue ammonia
- Nonmetalics
10.7
Upstream carbon intensity4
(kg of CO2e/boe)
99.8
Reliability7
(%)
54.4
Scope 1 emissions4
(mmtCO2e)
18.2
Scope 2 emissions4
(mmtCO2e)
1.1
Power supplied to the national grid
(gigawatts)
89.90
Freshwater consumption4
(million cubic meters)
Relationships
Inputs
Stakeholders
- Customers
- Suppliers
- Partners
- Governments
50+
Countries of operations
400+
Domestic and foreign subsidiaries, joint arrangements, and associates
Outcomes and impacts
65.0
In-Kingdom Total Value Add (iktva)4
(%)
SAR 747 $199
Payments to the Government8
(billion)
Financial
Inputs
SAR 158 $42
Capital expenditure2
(billions)
SAR 103 $27
Net cash3
(billions)
SAR 2,043 $545
Average capital employed3
(billions)
Outcomes and impacts
SAR 455 $121
Net income
(billions)
SAR 380 $101
Free cash flow*
(billions)
SAR 367 $98
Dividends paid
(billions)
22.5
Return on average capital employed (ROACE)*
(%)
Human
Inputs
73,311
Company employees4
Outcomes and impacts
0.018
Lost time injuries / illnesses rate4
(per 200,000 work hours)
0.042
Lost time injuries / illnesses rate4
(per 200,000 work hours)
15
Tier 1 process safety events4
3
Fatalities4
1. Hydrocarbon reserves of Saudi Arabian Oil Company (the Company) as at December 31, 2023, under the Concession agreement.
2. Capital expenditures do not include external investments.
3. For definition of net cash and average capital employed, refer to “Non-IFRS measures reconciliations and definitions” in the annual report.
4. Refer to Section 3: Sustainability in the annual report.for further information.
5. Total liquids is comprised of crude oil, NGL, and condensate.
6. Excludes SABIC Agri-Nutrients and Metals (Hadeed) businesses.
7. Applies to Saudi Arabian Oil Company (the Company).
8. Includes income taxes, royalties, and dividends.
* Non-IFRS measure: refer to “Non-IFRS measures reconciliations and definitions” in the annual report for further information.