SARCO shareholders approve amending corporate purposes

The approval came during the extraordinary general meeting held on Aug. 21.

Accordingly, SARCO will undertake petroleum operations in all its branches, including the purchase, transportation, refining, manufacturing, sale, import, export, and distribution of petroleum, its derivatives, and products inside and outside Saudi Arabia.

The company will also execute water, land reclamation, facilities, and transportation projects. This is in addition to carrying out all industrial and commercial projects, including the import and trade of materials and equipment necessary or related to its purposes. It may also engage in commercial agency activities for companies and institutions that conduct similar activities.

The firm will provide freight services and transportation of petroleum goods, derivatives, water, and chemicals for fees via land routes inside and outside the Kingdom.

SARCO will establish, develop, and operate refineries and petrochemical plants, including manufacturing refined petroleum and petrochemical products.

Further, the company will import and export all energy and hydrocarbon products, as well as chemicals, and other similar products, whether produced by the company or by others.

SARCO will also own and dispose of real estate in any form This is in addition to engaging in contracting, construction, operation, maintenance, and logistical services related to all energy, hydrocarbon and chemical facilities as well as other similar facilities.