Are there any U.S. oil companies in Saudi Arabia? If so, why? They are working against the interests of our country and should be shunned.
Aramco was first formed from Standard Oil of California. Other companies bought into the oil fields in Saudi. In 1973, the Saudi Arabian government acquired a 25% stake in Aramco. It increased its shareholding to 60% by 1974, and finally took full control of Aramco by 1980, by acquiring a 100% percent stake in the company.
The oil production in Saudi Arabia is only by Saudi Aramco. There are some joint ventures within the country, but I do not believe they are oil production.