To address these problems, the kingdom appears to be working on two fronts: increasing the size of aramco's revenues, and diversifying its oil-dependent national economy.

To become a giant in the universe, Saudi aramco's development is bound to occupy the right time, place and people.

Fitch estimates that about 70% of Saudi Arabia's revenue came from aramco between 2015 and 2017. Aramco, the world's best-known oil company, is so rich and so profitable that it has no idea how rich and profitable it is.

In the second half of 2014 began to drop in oil prices, leading to Saudi Arabia deficit as high as $38.6 billion in 2015, Saudi Arabia in the history of the highest deficits, and the budget deficit for the first time after 2009, according to the China power reported at the time, Saudi Arabia, a year time consumed $115 billion foreign exchange reserves, nearly 20% of the total. On top of that, a 2016 McKinsey report noted that 50 percent of Saudi Arabia's population is under 25, most of whom will face employment problems in the next few years, and that the kingdom needs to create twice as many jobs as it did during the high oil prices between 2003 and 2013 to absorb this labor force.

What level is this? None of the big five U.S. oil companies combined can compete with one Saudi aramco, with a $68.2 billion profit equivalent to 1.9 "no. 1 bank in the universe" icbc and 8.2 kweichow moutai.

It is undeniable that geographical location is the most prominent factor. Saudi Arabia is not only rich in oil resources, but also has a unique geological structure. Saudi Arabia's oil is relatively shallow compared with other big oil reserves, and it has more light oil and lower sulfur content, making it easier and cheaper to extract. And the weather and people, will be linked to the original establishment of Saudi aramco.

The world's largest oil company by proven reserves, Saudi aramco controls the world's largest onshore field, the gavoy field, and the largest offshore field, the safania field. Between 2016 and 2018, Saudi aramco accounted for about one-eighth of global crude oil production. At the end of 2018, Saudi aramco had 256.9 billion barrels of proven oil reserves, five times the combined proven reserves of the big five. That's enough to cover 52 years of production, far more than the other five major international oil companies need in nine to 17 years. In addition, aramco is the world's fourth largest integrated oil refinery. In 2018, aramco had a refining capacity of 4.9 million barrels per day and a net refining capacity of 3.1 million barrels.

In the first three quarters of this year, aramco reported net profit of $68.2bn on revenues of $244.4bn.

In fact, lying on the profits of Saudi aramco, is facing multiple attacks. From the outside, the United States, for its part, has seen a surge in production as technological advances have brought the cost of extracting shale oil under control, overtaking Russia and Saudi Arabia as the world's largest crude producer in November 2018 at 11.7 million barrels a day.

As the former chairman of Saudi aramco once said, as an important branch of government, Saudi aramco needs to find an optimal balance between following government policies and making money.

(Picture Source:Baidu)

With its gold-plated elevators, gold-plated Boeing 747s, and its 1,007-meter-high Saudi kingdom tower, Saudi Arabia is a land of "trench gas." Of course, it is not the general public who export the impression of tuhao, but the royal family who leave China frequently. Behind the royal highbrow flaunt wealth is the vast wealth of oil company aramco.

Internally, changes in Saudi aramco's performance have had a dramatic impact on the country's fortunes, thanks to the company's "supreme" economic contribution at home. Saudi aramco and Saudi Arabia can dance when oil prices rise, but when they fall, it hurts.

On the other hand, the electrification of vehicles, the development of new energy technologies for fuel cells and electric vehicles, and changes in transportation preferences, including ride-sharing, are reducing global demand for oil.

However, no matter it is the extension of Saudi aramco to the downstream of the industrial chain, or the development of Saudi Arabia's diversified industrial structure, there is no doubt that it needs huge financial support. Since 2015, Saudi Arabia has experienced a large fiscal deficit for five consecutive years, with a total budget deficit of about $161.3 billion. For the government, aramco's state ownership is a natural grab, but for investors about to take a stake, aramco's role as a moneymaker is the focus of attention on how this particular economic entity will evolve between two different roles.

Saudi Arabia's crown prince and defense minister, Mohammed bin salman, has said in an interview with the economist that the collapse in oil prices was one of the main reasons for urging aramco to go public, hoping it would help balance the government's budget.

Aramco makes an average of $250 million a day, or $2,890 a second, which translates into 20,000 yuan, more than most people's monthly salaries. And that's despite a downturn in oil prices and falling revenues. At the end of June 2019, the book balance of currency and currency equivalents was $39.53 billion out of the total assets of $379.8 billion of Saudi aramco, accounting for 10.41 percent of the total assets, far exceeding that of four of the oil five.