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Oil Exploration
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The company has been increasing its refining capacity to a global level and ranked sixth in the world refining capacity. The company has been successful and become the largest company in the world due to increased efficiency of the employees. Arabian Aramco tracks innovation and creativity through the incubation research and development centers and also transfers knowledge from the earlier generations to the new generations.
Global markets influence
Saudi Aramco has a key role in the global economy by maintaining a significant amount of crude oil production volumes to ensure the stability of the global oil prices. Among the latest challenges to the company was the European economy slowdown in 2012 where it had to be flexible in stabilizing the global oil prices. The company has a network of offices and joint ventures with other global companies in 18 major cities that have refined petroleum products depots and business relationships in the energy sector. The company has also invested in other countries鈥?energy-related projects and has benefited from the global companies best practices. It faces technical challenges in its operations, but the use of development and innovation skills helps it to cope with the global challenges. Other challenges related to the renewable resources are also a key factor in its responsibility of controlling the oil prices in the international market.
The company has significant control by the Saudi government and the royal family which should be limited. There are other mechanisms to enable the industry to operate effectively through taxation Cheap Zach Werenski Jersey , grants, and tax concessions. The strategy ensures that the company maintains its global status in oil production.

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