What do you think?
Rate this book
Saudi, Inc.
Книга специалиста в области геополитики и мировой энергетики Эллен Уолд посвящена истории Саудовской Аравии с начала XX века, когда Абдель-Азиз из рода Саудитов начал борьбу за объединение Аравийского полуострова, и до настоящего времени, когда Королевство стало одним из важнейших участников глобального энергетического рынка. Главные герои этой историко-политической саги — королевская семья аль-Сауд и самая прибыльная в истории нефтяного бизнеса компания Aramco. Читателя ждет захватывающее погружение в мир, где тесно переплелись религия и террор, бизнес и семейные распри, восточная мудрость и западные ценности, борьба за нефть и передел мирового энергетического рынка.
448 pages, Hardcover
Published April 3, 2018
106 people are currently reading
1321 people want to read
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 30 of 64 reviews
May 30, 2018
Absolutely fantastic book, thoroughly enjoyed the read. It is a clear and concise history of Saudi Arabia, Al-Saud (Saudi Royal Family) and Aramco. Aramco is the long enduring love affair of US and Saudi, an unusual marriage turned absolutely amicable if not fully smooth. House of Saud is not just a group of Bedouin turned Rich Royals but they are also astute, futuristic and pragmatic rulers. Saudi Arab in modern world is an strange anomaly in global politics and governance subject, At one end it harbor most radical and repressive form of already ancient religion Islam i.e. Wahabism and on the other hand Saudi have maintained a longstanding and very good relations with its ally USA which despite its overt support for Israel continue to remain a crucial ally for the country with perhaps most radical population on earth. How could they maintain this delicate balance? how could they overcome the opposite currents of radical Islam?, are interesting questions that this book tries to explore. In my understanding book tries to tell that throughout, the House of Saud reign, there has been one philosophy at the top of the ranks of government, Keep society socially and politically radical while keep the government decisions as secular as possible each and every move of Saudi politics is inspired by the consideration of money and profit , it is this relentless and secular pursuit of profit that makes Saudi Arabia unique from rest of Arab world while no other part of middle east boast as close relationship with US(perhaps with the exception of Kuwait or Qatar may be..) as Saudi maintain it, yet they also maintain a symbolic distance from them not because they loathe US but to maintain the sanctity of the retrogressive and narrow view of society, anybody interested in the subject of Saudi Arab and want to quickly know the country and its broader outlines of history should read this book.
June 30, 2018
If Wald is correct (and I believe she is), I got KSA so very wrong! Unlike poorly planned and governed oil states like Venezuela, KSA has navigated a grand, long-term strategy to maximize profit and the longevity of the monarchy. They play the long game for their descendants and have diversified into an multinational energy giant. The more successful the energy industry, the more money for the kingdom to enrich itself and provide for its citizens, the more stable the regime. “In return for the ...king’s protection and beneficence, his people gave loyalty.” I had thought they were shorter-term, all-eggs-in-the-petrol-barrel dudes. I made negative assumptions based on social policies, secrecy, the over-the-top opulence and behavior of the royals (esp in the West), funding of the madrasahs abroad and links to al Qaeda. “Saudi Arabia is in the energy business—now and for the future. Stability, expansion, profits, and diversification are the staples of its long-term policies, all with the aim of securing continued growth for future generations.” Today, KSA is much less vulnerable to low oil prices as they have diversified and globalized. A very practical clan.
Education
In the case of Aramco, it initially meant encouraging Saudi workers to accept training as welders, carpenters, machine repairmen, and roughnecks. Ten years later, it meant sending promising young Saudis abroad to school to learn geology, petroleum engineering, logistics and law. These men, and later, women, took positions in Aramco and worked their way up into management.”
I did not know the extent to which the government has supported their citizens higher ed aspirations abroad. They also developed a model whereby they would invite in foreign investment and expertise, watch, learn, work together, then take over the show. “Saudi Arabia’s strategy of learning new technologies and industries from established experts continued to serve Saudi Aramco well as it expanded from an oil-producing company to a global energy conglomerate.”
Governance
“Royal succession would not be based on seniority alone. Rather al Saud would determine succession with significant weight placed on ability, talent and experience, in addition to seniority.”
“In many cases, the Crown Prince functioned as a counterpoint to the king, ensuring that different bases of power were represented.”
“Saudi Arabia has always segregated its religious and traditional heritage from its primary business—the oil industry.”
L-etat, c’est moi moment: “... Saudi Aramco employees often referred to the king as ‘the Shareholder,’ but not to his face.”
Stability, Terrorism, Nationalization
They see themselves as victims of terrorism. Wald points out that terrorism is destabilizing to the future of the regime. Wahhabis are traditionalists in the strictest sense, limiting change. Terrorists are radicals who want to blow up the old order. They may share a strict adherence to a religion but they see the future very differently.
”Fundamentalist views support strict interpretations and traditional forms of practice, whereas radicalism supports upheaval, revolt and political change…. The family has always prioritized political stability in order to maintain power for future generations.”
Saudi need for stability is also noted when they took over Aramco, as opposed to nationalizing the company as in Iraq, Libya and Iran. “More than ownership, the Saudi government wanted profit, and Yamani and the king saw better avenues for optimizing Saudi profit and power for the long term.”
“Saudi Arabia is in the energy business—now and for the future. Stability, expansion, profits, and diversification are the staples of its long-term policies, all with the aim of securing continued growth for future generations.”
Israel
Attributed to King Abdul Azziz: “The Arabs would not object to the establishment on the Mediterranean coast of Palestine of a Jewish enclave.”
Abul Azziz “made it clear to the Americans that their support for the Jews in Palestine would not threaten the US-Saudi relationship.”
In 1973, it was politically expedient for King Feisel … to publicly castigate the Israelis and the Americans… it provided an ideological cover for an economic assault on the world economy. Manipulating the oil market in order to oppose Israel looked better than manipulating the oil market for profit, which is what these countries [oil-rich Arab countries] were doing.” In other words, ‘blame the Jews’ is exploited as pretense for profiteering. The elites from Arab states with oil are unsurprisingly astute and calculating behind the scenes. Geopolitics as gamesmanship rather than ideology. It’s almost like the Muslim “haters” use the Jews (and the “West” and modernity) as scapegoats, as fodder for the masses, to deflect from shortcomings of leadership and culture…. The Saudis lead the pack. Alpha dogs. I must look to John le Carre for a novel on this.
US Strategy
I had a laugh at Wald’s descriptions of the Americans (the oil guys and our diplomats) negotiating with the Saudis over Aramco concessions and eventual sale. Our guys continuously underestimated their Saudi counterparts. They did not understand Saudi ways and were often outmaneuvered. The Saudis were patient, they placated the Americans and told them what they wanted to hear. The US suits did get their profits, the US military patrolling after WWII got their fuel and Western Europe got their fuel for rebuilding. But the US tax payers lost out on Aramco taxes. Aramco was able to switch their “tax” paying from the US to KSA. This way, KSA could reap more profit at no cost to Aramco (at the US Treasury’s expense).” OTOH, Saudi oil was vital to Western security. We paid for it in many ways and we benefitted from stability in Europe. The Saudis ultimately outwitted and outwaited Team USA and eventually bought Aramco outright.
Education
In the case of Aramco, it initially meant encouraging Saudi workers to accept training as welders, carpenters, machine repairmen, and roughnecks. Ten years later, it meant sending promising young Saudis abroad to school to learn geology, petroleum engineering, logistics and law. These men, and later, women, took positions in Aramco and worked their way up into management.”
I did not know the extent to which the government has supported their citizens higher ed aspirations abroad. They also developed a model whereby they would invite in foreign investment and expertise, watch, learn, work together, then take over the show. “Saudi Arabia’s strategy of learning new technologies and industries from established experts continued to serve Saudi Aramco well as it expanded from an oil-producing company to a global energy conglomerate.”
Governance
“Royal succession would not be based on seniority alone. Rather al Saud would determine succession with significant weight placed on ability, talent and experience, in addition to seniority.”
“In many cases, the Crown Prince functioned as a counterpoint to the king, ensuring that different bases of power were represented.”
“Saudi Arabia has always segregated its religious and traditional heritage from its primary business—the oil industry.”
L-etat, c’est moi moment: “... Saudi Aramco employees often referred to the king as ‘the Shareholder,’ but not to his face.”
Stability, Terrorism, Nationalization
They see themselves as victims of terrorism. Wald points out that terrorism is destabilizing to the future of the regime. Wahhabis are traditionalists in the strictest sense, limiting change. Terrorists are radicals who want to blow up the old order. They may share a strict adherence to a religion but they see the future very differently.
”Fundamentalist views support strict interpretations and traditional forms of practice, whereas radicalism supports upheaval, revolt and political change…. The family has always prioritized political stability in order to maintain power for future generations.”
Saudi need for stability is also noted when they took over Aramco, as opposed to nationalizing the company as in Iraq, Libya and Iran. “More than ownership, the Saudi government wanted profit, and Yamani and the king saw better avenues for optimizing Saudi profit and power for the long term.”
“Saudi Arabia is in the energy business—now and for the future. Stability, expansion, profits, and diversification are the staples of its long-term policies, all with the aim of securing continued growth for future generations.”
Israel
Attributed to King Abdul Azziz: “The Arabs would not object to the establishment on the Mediterranean coast of Palestine of a Jewish enclave.”
Abul Azziz “made it clear to the Americans that their support for the Jews in Palestine would not threaten the US-Saudi relationship.”
In 1973, it was politically expedient for King Feisel … to publicly castigate the Israelis and the Americans… it provided an ideological cover for an economic assault on the world economy. Manipulating the oil market in order to oppose Israel looked better than manipulating the oil market for profit, which is what these countries [oil-rich Arab countries] were doing.” In other words, ‘blame the Jews’ is exploited as pretense for profiteering. The elites from Arab states with oil are unsurprisingly astute and calculating behind the scenes. Geopolitics as gamesmanship rather than ideology. It’s almost like the Muslim “haters” use the Jews (and the “West” and modernity) as scapegoats, as fodder for the masses, to deflect from shortcomings of leadership and culture…. The Saudis lead the pack. Alpha dogs. I must look to John le Carre for a novel on this.
US Strategy
I had a laugh at Wald’s descriptions of the Americans (the oil guys and our diplomats) negotiating with the Saudis over Aramco concessions and eventual sale. Our guys continuously underestimated their Saudi counterparts. They did not understand Saudi ways and were often outmaneuvered. The Saudis were patient, they placated the Americans and told them what they wanted to hear. The US suits did get their profits, the US military patrolling after WWII got their fuel and Western Europe got their fuel for rebuilding. But the US tax payers lost out on Aramco taxes. Aramco was able to switch their “tax” paying from the US to KSA. This way, KSA could reap more profit at no cost to Aramco (at the US Treasury’s expense).” OTOH, Saudi oil was vital to Western security. We paid for it in many ways and we benefitted from stability in Europe. The Saudis ultimately outwitted and outwaited Team USA and eventually bought Aramco outright.
February 18, 2019
A bizarre book that begins as a straightforward history of Saudi Arabia and its energy industry (albeit while getting multiple historical dates wrong) until halfway through it veers into a weird hagiography of Saudi Aramco and Saudi Arabia, extolling the virtues of the Kingdom, the wisdom and intelligence of various Kings and princes and oil executives, and even goes so far as to tell one how progressive the Saudi government has become in regards to women!
One wonders if there was Saudi money in getting this published because by its end it reads like a commissioned vanity history. Such a left turn.
One wonders if there was Saudi money in getting this published because by its end it reads like a commissioned vanity history. Such a left turn.
February 14, 2018
I don't know that I would have EVER thought that a book about the Kings of Saudi Arabia and an oil company would have been interesting. But this book is! I don't just mean that the book is well written (it is) but Wald actually seems very enthusiastic about the topic and that carries over to the reader. Or at least it did to me. I almost want to laugh at myself for how interesting and intriguing I found this book, "SAUDI INC. The Arabian Kingdom's Pursuit of Profit and Power" by Ellen R. Wald.
Abdul Aziz, or ibn Saud, the founder of Saudi Arabia (never realized where the name came from, sort of a 'duh' moment when I found that out: SAUD-i Arabia) was quite an interesting guy. He started out by conquering his hometown of Riyadh and then ended up growing his territory over time until he had even conquered Mecca. He and Sheikh Abdullah Sulaiman, the man he put in charge of his finances (also an interesting character), made quite the team to build up the Kingdom and solidify its well-being for the future. That was one of Aziz's goals, to ensure the continuation of his Kingdom. In order to even continue as a kingdom, he needed money, very badly. This is where oil comes into the picture.
Americans thought that Saudi Arabia might be a potential source of oil and so they requested permission to search for it. King Saud did not expect their search to be successful, but he saw a financial opportunity in this. He could charge the Americans a fee to search his country for it and also obtain rent from their premises, and then royalties from oil sales, if there was any to be found. Even if the Americans didn't find oil, his own country would still get something out of it.
Lo, and behold, after much searching and near failure, a significant source of oil was found. Four American companies ultimately teamed up to work in Saudi Arabia. They renamed the company, calling it the Arabian American Oil Company, or Aramco. Along with American oil operations came American equipment, American housing structures for the workers, an airport, hospital and power plant and other American luxuries. The King wanted those things for his country. He had more money than he had ever had before, thanks to Aramco. Though Saudi Arabia did not have the ability, as of yet, to build these things for itself, they could pay foreign venders to do it for them. Saudi Arabia was so successful in their modernization that Abdul Aziz was invited to extend his rule to other places, though he declined the offer. Ruling the territory he currently had was already a tough enough challenge.
This historical account does not merely focus on the Sauds and Aramco at a high level. Wald zooms in, as it were, on the individual lives of many of the characters involved, using their stories to help move the book along. You'll learn about the Saudi Kings: the beloved founder Ibn Saud, and his sons who succeeded him, all of whom had unique personalities of their own. Saud and Faisal, for instance, were opposites in personality. King Saud - was a bad governor and a spendthrift who loved luxury. He was, somewhat forcibly, persuaded to give up his government to his brother Faisal, was a much better ruler.
You'll also learn about non Royal Saudi Arabians, Aramco employees, and American Ambassadors who, at the beginning of the Aramco and Saudi relationship, often had to act as intermediators between the company and the Kings of Saudi Arabia. Wald often repeats who these people are, by mentioning what their job or position is, or by giving you a reminder about their background which can trigger your memory as to their identity. I really appreciate that as I often have a hard time keeping characters straight in my head.
Wald demonstrates how wise the Sauds were in their being willing to acknowledge that other countries were more modern than they and in their being willing to learn from those countries. They had foreign companies and workers come in and do the work while they learned until they were finally able to take over themselves. Ultimately the Sauds were able to take over Aramco itself by means of this strategy. Instead of forcibly nationalizing the foreign oil company, as some other countries had done, the Sauds were very patient and were willing to wait. They eventually even started having more and more young Saudi Arabians educated in other countries to increase their knowledge and to have more to contribute to their society when they returned. By the time the Sauds completely took over Aramco they were more ready than other countries, who had acted in haste, to run the oil industry themselves.
The book ends at the beginning of the reign of King Salman (2015) and does not deal with later plans of Saudi Arabia like Vision 2030, but the whole book gives you the history of the development of Saudi Arabia, which development and growth would eventually lead up to that plan and it gives you the big picture of the Saud mindset of always looking to the future. The Sauds are still looking to the future, they want to stay in the energy business and realize that oil will not stay a major source of energy forever and so they are making other plans to ensure that they will be a long-term relevant energy source.
As indicated at the beginning of this review, I found that Wald writes very well, her book really kept my interest. Some other books dealing with history are horribly boring, some so much so that I didn't finish reading them. Boring history books just seem as though they are merely reciting a bunch of facts, and after a while the continued recitation of various names, dates and events becomes quite dull and very hard to retain in one's memory. Wald, on the other hand tries to get you to picture the people, their personalities, their thoughts and the events and circumstances in which they are involved. She uses excerpts of historical quotations and recollections of many of the people involved in order to do this. She truly seems to find her topic interesting and seems to have worked hard to make it interesting to the reader.
Very well written, intriguing and even fascinating. Wald really drew me in to the history, and she might draw you in too, even though it is just a book about oil and Kings.
I received a complimentary Advanced Reading Copy of this book from the publisher for review. My review did not have to be favorable. Many thanks to Pegasus Books!
Abdul Aziz, or ibn Saud, the founder of Saudi Arabia (never realized where the name came from, sort of a 'duh' moment when I found that out: SAUD-i Arabia) was quite an interesting guy. He started out by conquering his hometown of Riyadh and then ended up growing his territory over time until he had even conquered Mecca. He and Sheikh Abdullah Sulaiman, the man he put in charge of his finances (also an interesting character), made quite the team to build up the Kingdom and solidify its well-being for the future. That was one of Aziz's goals, to ensure the continuation of his Kingdom. In order to even continue as a kingdom, he needed money, very badly. This is where oil comes into the picture.
Americans thought that Saudi Arabia might be a potential source of oil and so they requested permission to search for it. King Saud did not expect their search to be successful, but he saw a financial opportunity in this. He could charge the Americans a fee to search his country for it and also obtain rent from their premises, and then royalties from oil sales, if there was any to be found. Even if the Americans didn't find oil, his own country would still get something out of it.
Lo, and behold, after much searching and near failure, a significant source of oil was found. Four American companies ultimately teamed up to work in Saudi Arabia. They renamed the company, calling it the Arabian American Oil Company, or Aramco. Along with American oil operations came American equipment, American housing structures for the workers, an airport, hospital and power plant and other American luxuries. The King wanted those things for his country. He had more money than he had ever had before, thanks to Aramco. Though Saudi Arabia did not have the ability, as of yet, to build these things for itself, they could pay foreign venders to do it for them. Saudi Arabia was so successful in their modernization that Abdul Aziz was invited to extend his rule to other places, though he declined the offer. Ruling the territory he currently had was already a tough enough challenge.
This historical account does not merely focus on the Sauds and Aramco at a high level. Wald zooms in, as it were, on the individual lives of many of the characters involved, using their stories to help move the book along. You'll learn about the Saudi Kings: the beloved founder Ibn Saud, and his sons who succeeded him, all of whom had unique personalities of their own. Saud and Faisal, for instance, were opposites in personality. King Saud - was a bad governor and a spendthrift who loved luxury. He was, somewhat forcibly, persuaded to give up his government to his brother Faisal, was a much better ruler.
You'll also learn about non Royal Saudi Arabians, Aramco employees, and American Ambassadors who, at the beginning of the Aramco and Saudi relationship, often had to act as intermediators between the company and the Kings of Saudi Arabia. Wald often repeats who these people are, by mentioning what their job or position is, or by giving you a reminder about their background which can trigger your memory as to their identity. I really appreciate that as I often have a hard time keeping characters straight in my head.
Wald demonstrates how wise the Sauds were in their being willing to acknowledge that other countries were more modern than they and in their being willing to learn from those countries. They had foreign companies and workers come in and do the work while they learned until they were finally able to take over themselves. Ultimately the Sauds were able to take over Aramco itself by means of this strategy. Instead of forcibly nationalizing the foreign oil company, as some other countries had done, the Sauds were very patient and were willing to wait. They eventually even started having more and more young Saudi Arabians educated in other countries to increase their knowledge and to have more to contribute to their society when they returned. By the time the Sauds completely took over Aramco they were more ready than other countries, who had acted in haste, to run the oil industry themselves.
The book ends at the beginning of the reign of King Salman (2015) and does not deal with later plans of Saudi Arabia like Vision 2030, but the whole book gives you the history of the development of Saudi Arabia, which development and growth would eventually lead up to that plan and it gives you the big picture of the Saud mindset of always looking to the future. The Sauds are still looking to the future, they want to stay in the energy business and realize that oil will not stay a major source of energy forever and so they are making other plans to ensure that they will be a long-term relevant energy source.
As indicated at the beginning of this review, I found that Wald writes very well, her book really kept my interest. Some other books dealing with history are horribly boring, some so much so that I didn't finish reading them. Boring history books just seem as though they are merely reciting a bunch of facts, and after a while the continued recitation of various names, dates and events becomes quite dull and very hard to retain in one's memory. Wald, on the other hand tries to get you to picture the people, their personalities, their thoughts and the events and circumstances in which they are involved. She uses excerpts of historical quotations and recollections of many of the people involved in order to do this. She truly seems to find her topic interesting and seems to have worked hard to make it interesting to the reader.
Very well written, intriguing and even fascinating. Wald really drew me in to the history, and she might draw you in too, even though it is just a book about oil and Kings.
I received a complimentary Advanced Reading Copy of this book from the publisher for review. My review did not have to be favorable. Many thanks to Pegasus Books!
August 18, 2018
This was a fascinating and informative read. The author clearly did extensive research and has presented a well thought out book about one of the powerhouses in the Middle Eastern region. If you're interested in politics and current world affairs, this book is definitely something you should read. It gives a good perspective and some food for thought.
December 23, 2018
As a person never interested by the Arabian Kingdom, I feel like reading this book was a mistake.
After reading it I'm not interested in it at all, not sure how it made to top 10 NYT Bestseller.
After reading it I'm not interested in it at all, not sure how it made to top 10 NYT Bestseller.
January 1, 2019
All I can say is WOW 😳
December 3, 2020
Любопытная книга по истории Саудовской Аравии, государстве семьи Саудов. Как в современном мире выживает абсолютная монархия, за счет нефтяных денег и связей с США.
April 14, 2019
Basically is the inside story of the house of the Saudi royal family. With 45 kids, the original king started a nation but without the knowhow, they had to give to Aramco the rights to Oil. Slowly they tried to take it back to national control. They finally made it somewhere around the time of the 70s oil crisis. The public played the story of Arabs and Isreal conflict but the reality was the push to take back the control of the company and the Jews was an easy way to target them and explain to the public the increase in oil prices. Was easier to blame them instead of revealing the true nature of the crisis, the ownership of the world largest oil fields.
July 23, 2021
The book gives complete detail right from the formation of Aramco [Arabian American Oil Company] as an American company to transition as Saudi Company - Saudi Aramco [Saudi Arabian Oil Company]. It also gives insight into how the kingdom was founded by Abdul Aziz when he recaptured Riyadh in 1902.
In the first part of the book, the author explains how the Saudis got 50% profit ownership of Aramco in 1950s. (then American company) It was agreed that Aramco would do all the research and discover oil wells in Saudi Arabia and pay royalty to kingdom in lieu of the same. Americans were of the view that the Saudis did not understood the financials of the company. However, the shrewd finance minister, Abdullah Suleiman worked in the best interest of Abdul Aziz (then king of Saudi) and got Americans to the negotiation table and secured much more than 50% profit ownership in the company and entered into famous - The Saudi-Aramco "50/50" Agreement.
The second part of the book revolves around the opposite nature of two sons of Abdul Aziz - Saud [Elder] and Faisal [younger from different wife]. Before his health deteriorated Abdul had made sure to take a promise from the two sons that they would never fight in public and that Saud would become the king. After becoming king, Saud was more interested in spending the money in royal pleasure while Faisal wanted to invest in infrastructure and modernization of Saudi Arabia. Saud after ruling for a while becomes ill and goes into exile and is succeeded by Faisal as King.
This part also talk about obsession of Saudi with religion, women and terrorism. While initially, Faisal was having very liberal views towards modernization but when the king in Iran was dethroned by public outrage for having liberal views towards religion and also attack on Mecca by Juhayman, he gives unlimited power to the ulama which undoes all the modernization effort taken by Faisal. The draconian rules which Saudi had for women is beyond imagination. Women in Saudi could not move an inch without the permission of the guardian. They were treated more like object than human being. On terrorism there are conflicting views, while the kingdom maintains that it is also one of the victim of terrorism, the world believes that oil money is used to fund the terrorist outfits more so after 9/11 and also because Osama Bin Laden is a citizen of Saud Arabia.
In the last part of the book, the author is talking about the transformation of Aramco from an American company to Saudi company. Yamini who was a Saudi Citizen (Harvard Educated) later inducted as one of the minister in kingdom led the negotiations with Americans to cede control of the company in favor of Saudi Arabia. Unlike Iran and other oil countries, Aramco was not nationalized, rather Saudi government bought the entire stake in Aramco and that too very slowly to ensure that the relationship with Americans is not tarnished because they were the biggest customer of Aramco. One has to give it to Yamini for the way it was planned. Even after acquisition, the company is run very professionally and there is no interference from Saudi Kingdom which is head of the government.
Saudi Aramco is a perfect example of a government company (where head of the government is Saudi King) run by professionals. One must say that its a great feat to achieve and Saudi Aramco is no small company by any means. Its among the top 5 in the world.
If you are interested to know about the transformation of Saudi Arabia and also about one of the most powerful company in the world, this is the book you should read.
In the first part of the book, the author explains how the Saudis got 50% profit ownership of Aramco in 1950s. (then American company) It was agreed that Aramco would do all the research and discover oil wells in Saudi Arabia and pay royalty to kingdom in lieu of the same. Americans were of the view that the Saudis did not understood the financials of the company. However, the shrewd finance minister, Abdullah Suleiman worked in the best interest of Abdul Aziz (then king of Saudi) and got Americans to the negotiation table and secured much more than 50% profit ownership in the company and entered into famous - The Saudi-Aramco "50/50" Agreement.
The second part of the book revolves around the opposite nature of two sons of Abdul Aziz - Saud [Elder] and Faisal [younger from different wife]. Before his health deteriorated Abdul had made sure to take a promise from the two sons that they would never fight in public and that Saud would become the king. After becoming king, Saud was more interested in spending the money in royal pleasure while Faisal wanted to invest in infrastructure and modernization of Saudi Arabia. Saud after ruling for a while becomes ill and goes into exile and is succeeded by Faisal as King.
This part also talk about obsession of Saudi with religion, women and terrorism. While initially, Faisal was having very liberal views towards modernization but when the king in Iran was dethroned by public outrage for having liberal views towards religion and also attack on Mecca by Juhayman, he gives unlimited power to the ulama which undoes all the modernization effort taken by Faisal. The draconian rules which Saudi had for women is beyond imagination. Women in Saudi could not move an inch without the permission of the guardian. They were treated more like object than human being. On terrorism there are conflicting views, while the kingdom maintains that it is also one of the victim of terrorism, the world believes that oil money is used to fund the terrorist outfits more so after 9/11 and also because Osama Bin Laden is a citizen of Saud Arabia.
In the last part of the book, the author is talking about the transformation of Aramco from an American company to Saudi company. Yamini who was a Saudi Citizen (Harvard Educated) later inducted as one of the minister in kingdom led the negotiations with Americans to cede control of the company in favor of Saudi Arabia. Unlike Iran and other oil countries, Aramco was not nationalized, rather Saudi government bought the entire stake in Aramco and that too very slowly to ensure that the relationship with Americans is not tarnished because they were the biggest customer of Aramco. One has to give it to Yamini for the way it was planned. Even after acquisition, the company is run very professionally and there is no interference from Saudi Kingdom which is head of the government.
Saudi Aramco is a perfect example of a government company (where head of the government is Saudi King) run by professionals. One must say that its a great feat to achieve and Saudi Aramco is no small company by any means. Its among the top 5 in the world.
If you are interested to know about the transformation of Saudi Arabia and also about one of the most powerful company in the world, this is the book you should read.
August 11, 2025
Initial part of the book was really interesting, unfortunately later it transforms into hagiography describing how amazing Aramco and Saudi Arabia is. And I’m not saying it isn’t, but hard to believe there is no dark side.
But all in all it is a good and interesting read.
But all in all it is a good and interesting read.
October 8, 2019
I thought I knew something about Saudi Arabia.
I highly recommend this book.
I highly recommend this book.
January 26, 2025
"The story of Saudi Arabia, in many respects, is the story of leaders with plans, strategies, and visions for the future." Ellen R. Wald captures this essence brilliantly in Saudi Inc., offering readers a fascinating exploration of the rise of Saudi Aramco and its pivotal role in shaping the modern kingdom.
Wald delves into the intersection of business, politics, and culture, tracing the transformation of Saudi Arabia from a desert nation to a global oil powerhouse. Through vivid storytelling and meticulous research, she unveils the ambitions of visionary leaders like King Abdulaziz and his successors, who balanced tribal traditions with the demands of a rapidly evolving world.
The book reads like a gripping narrative of determination and pragmatism, where oil becomes not just a resource but a tool for nation-building and international influence. Though some chapters can drag and be boring at times. If you're intrigued by history, business, or geopolitics, Saudi Inc. offers a compelling lens into the complexities of Saudi Arabia’s past and its ongoing quest to shape its future.
- 3.5 stars
Wald delves into the intersection of business, politics, and culture, tracing the transformation of Saudi Arabia from a desert nation to a global oil powerhouse. Through vivid storytelling and meticulous research, she unveils the ambitions of visionary leaders like King Abdulaziz and his successors, who balanced tribal traditions with the demands of a rapidly evolving world.
The book reads like a gripping narrative of determination and pragmatism, where oil becomes not just a resource but a tool for nation-building and international influence. Though some chapters can drag and be boring at times. If you're intrigued by history, business, or geopolitics, Saudi Inc. offers a compelling lens into the complexities of Saudi Arabia’s past and its ongoing quest to shape its future.
- 3.5 stars
April 10, 2023
Well structured historical overview of Saudi Arabia. Wald gives a detailed description of how much Aramco and Al Saud are intertwined throughout their history. Having studied Mexican oil industry history before, the Saudi example gave me a new perspective/meaning on for "procurement of wealth for future generations".
This books also serves as an introduction to Saudi business philosophy and modus operandi.
This books also serves as an introduction to Saudi business philosophy and modus operandi.
May 30, 2018
Ellen R. Wald’s book “Saudi, Inc.” about the Arabian kingdom’s pursuit of profit and power has been justly praised as “crucial reading for understanding Saudi Arabia” by Steve Forbes, and as “Masterful” by James B. Smith, American Ambassador to Saudi Arabia from 2009-2013. He also called it “mandatory reading.” They are right. The book is full of fascinating information written clearly, in an interest-holding manner. Saudi Arabia is in the news at least weekly, but too many people do not know enough about it. Ellen R. Wald fills this void and does it very well.
The origin of this kingdom began in 1902 with theft and murder, which continued as the kingdom expanded. Abdul Aziz ibn Saud (1875-1953), a refugee from Kuwait, and two hundred of his cousins, fellow tribesmen, and sympathetic Bedouins invaded Riyadh, which was then an unimpressive city, during the fast days of Ramadan. By 1925, he had conquered Mecca. By 1928, he controlled most of the Arabian Peninsula. In 1932, he proclaimed himself king of the country he named for his family, Saudi Arabia. It took him thirty years of constant warfare and murder to gain control. Saudi Arabia is now the fifth largest state in Asia and the richest. Ibn Saud’s sons enjoyed immense wealth, and they controlled the most profitable company in the world, Saudi Aramco.
The very next year after he consolidated power, in 1933, after discovering oil in the nearby island of Bahrain, American oilmen suspecting that oil lay beneath the sands of Saudi Arabia, came and negotiated a partnership with the newly crowned king. Ibn Saud was convinced there was no oil under Saudi Arabia but saw no reason to refuse money when he had nothing arduous to do with the project, and there were five years of unsuccessful drilling. The relationship between the Arabs and Americans was rocky for years, and Wald details the sometimes sordid schemes and intrigues, including whether the US support for Israel would interfere with the oil deal.
All of the six kings after ibn Saud to the present time have been the sons of ibn Saud. Ibn Saud bragged that he married no less than 150 virgins. He had 42 sons and 55 daughters. After he died in 1953, one of his sons was appointed king. With his death, his brother rose to be king. Since no son is now left other than the present king, Salman, who is 82-years-old, the next king is expected to be his son Crown Prince Mohammad bin Salman, who was born in 1985 and is 32 years old. Wald tells us about the often strange lives of all the Saudi kings.
Among much else, Wald tells us about conditions in Saudi Arabia, physical and religious. For example, the basic law of Saudi Arabia has been accused by “Human Rights Watch” of egregious violations of human rights. The law requires all citizens in Saudi Arabia to be Muslim. The religion of the country is Wahhabism, which is ultraconservative, very austere; when it was introduced into the country its goal was to bring “pure monotheism” to primitive Arabs. Women are mistreated. The country is ranked 141 out of 144 for gender parity. Most Saudi homes and public places have a separate entrance for men and women. Women cannot drive cars. They must draw garments around them when they go outside their homes.
There is much more in Wald’s excellent book. For example, the US did not dispatch an official ambassador to Saudi Arabia until 1946, and the king made unusual demands upon the ambassador about his clothing and how he should enter to see the king and leave him; never show the king your back. The rules about drinking alcohol and the tale of the king’s son who violated the rule. About Osama bin Laden. The huge spending by the kings and their debts; in 1958 the country was in a serious financial crisis. Taxing the oil in the US. Modernizing the country. What is OPEC, how does it work, what is the Saudi relationship to it, and setting prices. The deposing of one of the kings, why, and how it was done. The role of the Crown Prince. Clerics having complete control over the religion.
In short, Ellen R. Wald’s book offers its readers a wealth of information about a country that has enormous influence upon the rest of the world.
The origin of this kingdom began in 1902 with theft and murder, which continued as the kingdom expanded. Abdul Aziz ibn Saud (1875-1953), a refugee from Kuwait, and two hundred of his cousins, fellow tribesmen, and sympathetic Bedouins invaded Riyadh, which was then an unimpressive city, during the fast days of Ramadan. By 1925, he had conquered Mecca. By 1928, he controlled most of the Arabian Peninsula. In 1932, he proclaimed himself king of the country he named for his family, Saudi Arabia. It took him thirty years of constant warfare and murder to gain control. Saudi Arabia is now the fifth largest state in Asia and the richest. Ibn Saud’s sons enjoyed immense wealth, and they controlled the most profitable company in the world, Saudi Aramco.
The very next year after he consolidated power, in 1933, after discovering oil in the nearby island of Bahrain, American oilmen suspecting that oil lay beneath the sands of Saudi Arabia, came and negotiated a partnership with the newly crowned king. Ibn Saud was convinced there was no oil under Saudi Arabia but saw no reason to refuse money when he had nothing arduous to do with the project, and there were five years of unsuccessful drilling. The relationship between the Arabs and Americans was rocky for years, and Wald details the sometimes sordid schemes and intrigues, including whether the US support for Israel would interfere with the oil deal.
All of the six kings after ibn Saud to the present time have been the sons of ibn Saud. Ibn Saud bragged that he married no less than 150 virgins. He had 42 sons and 55 daughters. After he died in 1953, one of his sons was appointed king. With his death, his brother rose to be king. Since no son is now left other than the present king, Salman, who is 82-years-old, the next king is expected to be his son Crown Prince Mohammad bin Salman, who was born in 1985 and is 32 years old. Wald tells us about the often strange lives of all the Saudi kings.
Among much else, Wald tells us about conditions in Saudi Arabia, physical and religious. For example, the basic law of Saudi Arabia has been accused by “Human Rights Watch” of egregious violations of human rights. The law requires all citizens in Saudi Arabia to be Muslim. The religion of the country is Wahhabism, which is ultraconservative, very austere; when it was introduced into the country its goal was to bring “pure monotheism” to primitive Arabs. Women are mistreated. The country is ranked 141 out of 144 for gender parity. Most Saudi homes and public places have a separate entrance for men and women. Women cannot drive cars. They must draw garments around them when they go outside their homes.
There is much more in Wald’s excellent book. For example, the US did not dispatch an official ambassador to Saudi Arabia until 1946, and the king made unusual demands upon the ambassador about his clothing and how he should enter to see the king and leave him; never show the king your back. The rules about drinking alcohol and the tale of the king’s son who violated the rule. About Osama bin Laden. The huge spending by the kings and their debts; in 1958 the country was in a serious financial crisis. Taxing the oil in the US. Modernizing the country. What is OPEC, how does it work, what is the Saudi relationship to it, and setting prices. The deposing of one of the kings, why, and how it was done. The role of the Crown Prince. Clerics having complete control over the religion.
In short, Ellen R. Wald’s book offers its readers a wealth of information about a country that has enormous influence upon the rest of the world.
October 24, 2018
This was better than I expected, but still not great. It's essentially the story of Saudi Arabia As seen through the lens of Aramco. As a story, there was more compelling than I expected BUT it's still not a great book, unfortunately.
The primary problem is that it becomes clear on hearing the story that there's a lot going on in the background that is not explained or explained in a facile fashion.
Most obviously, over this period most comparable countries (eg Iran, Iraq, Libya) nationalized their oil industries more or less violently; Saudi Arabia did not. Rather it constantly (and successfully) negotiated with the US to improve its status. So what explains the difference? The author's constant refrain, her explanation for everything, is that the Saudi's were interested only in improving their profits. What? As opposed to the Iranians or Iraqi's or Libyans who nationalized oil for the fun of it with zero regard for profits?
Various possibilities suggest themselves. Did the Americans simply treat the Saudi's with more respect and fairness than, say, the British or the Italians, at least in part because of no lingering colonial poison? Was the issue better, more sensible behavior by the US side of Aramco, or better, more sensible behavior by the US government, as compared to those other countries? Was there something genuinely different about the Saudi Government compared to the others? (Of course it was not radical in a way that the others were, but that only moves the issue up one level -- why did radical governments come to power in those other countries in a way that did not happen in Saudi Arabia?)
So, yeah, I'd say it's worth reading; unless you're a specialist in the area, I expect you'll learn some things from this book beyond the impression you've been given of Saudi Arabia from the mainstream media. But be aware that, by the end, you'll be left with a whole lot of new questions.
The primary problem is that it becomes clear on hearing the story that there's a lot going on in the background that is not explained or explained in a facile fashion.
Most obviously, over this period most comparable countries (eg Iran, Iraq, Libya) nationalized their oil industries more or less violently; Saudi Arabia did not. Rather it constantly (and successfully) negotiated with the US to improve its status. So what explains the difference? The author's constant refrain, her explanation for everything, is that the Saudi's were interested only in improving their profits. What? As opposed to the Iranians or Iraqi's or Libyans who nationalized oil for the fun of it with zero regard for profits?
Various possibilities suggest themselves. Did the Americans simply treat the Saudi's with more respect and fairness than, say, the British or the Italians, at least in part because of no lingering colonial poison? Was the issue better, more sensible behavior by the US side of Aramco, or better, more sensible behavior by the US government, as compared to those other countries? Was there something genuinely different about the Saudi Government compared to the others? (Of course it was not radical in a way that the others were, but that only moves the issue up one level -- why did radical governments come to power in those other countries in a way that did not happen in Saudi Arabia?)
So, yeah, I'd say it's worth reading; unless you're a specialist in the area, I expect you'll learn some things from this book beyond the impression you've been given of Saudi Arabia from the mainstream media. But be aware that, by the end, you'll be left with a whole lot of new questions.
July 1, 2018
The Saudi desert may be dry, but this book is anything but...
I normally wouldn’t gravitate towards reading a book with this subject matter but I was intrigued given the recent buzz on the Saudi Aramco IPO. I was very pleasantly surprised to be completely absorbed. Ms. Wald’s history of Saudi Arabia and its energy strategy reads like a novel! You have to admire and root for a country with a long-term strategy for its economic future that is willing to sacrifice short-term profits to become even more prosperous in generations to come.
I normally wouldn’t gravitate towards reading a book with this subject matter but I was intrigued given the recent buzz on the Saudi Aramco IPO. I was very pleasantly surprised to be completely absorbed. Ms. Wald’s history of Saudi Arabia and its energy strategy reads like a novel! You have to admire and root for a country with a long-term strategy for its economic future that is willing to sacrifice short-term profits to become even more prosperous in generations to come.
July 17, 2018
Good book - but once you read 'The Prize' any such book is meant to bring very little incremental knowledge
May 3, 2018
In 1938, oil was first discovered in Saudi Arabia. For decades the find, it entered into a deception game with the United States. The Saudi wanted the US., who was very good at finding and refining oil, to do just that, but also knew that if the US was going to get the oil out of the ground, they certainly were going to want to profit (immensely) and probably want to stay and keep profiting for a VERY long time (see every country who's had oil found on their land). The game became get the US to do the work for us and find a way to eventually push them out of our land for the Saudi, and for the US it became get away with fooling the Saudi on oil profits and get rich forever if possible.
May 13, 2018
A very interesting story, both from a business perspective as well as political history of the middle East. The ascent of the house of saud and Saudi Aramco go hand in hand. Rounded with some cultural societal detail, this story explains in parts why Saudi Arabians are the way they are.
January 2, 2019
This is a historical overview of the Saudi Arabian kingdom and the Aramco oil company based there. It's mostly about the relationship between the two, how the kingdom has helped the company develop, and used the profits from it to maintain and entrench their rule.
It gets off to a slow start. After an interesting opening section about how Abdul Aziz was able to come to power, the book gets bogged down in the early years of Aramco. Much of the first third of the book reads like a dull corporate history, which focuses entirely on top level officials in the company and how oil production was expanded. The book starts to come to life in the middle third, where there is more interaction between the oil company and the kingdom.
Wald argues that the Saudi family has almost always had a clear, long term plan for what they wanted to do and have been fairly effective at getting it. They didn't make a big move to nationalize the oil company. Instead, they invited westerners in, learned from them, and then started to negotiate better deals for themselves - which allowed for even better deals down the road. Thus they were eventually able to take over the company outright, not by confrontation, but via a buyout that let them maintain good business relations. They've had some problems with the ups and downs of oil over the years, but have weathered those storms and tried to learn from them. In the 1980s, they tried to use their oil capacity to influence oil prices - and that didn't work (other OPEC members cheated, and non-OPEC members increased their oil production. So, 30 years later, they learned. During the rise of oil fracking, they (successfully) got OPEC to banish national oil production quotas. This crushed many oil producers, but was easier for the Saudis to weather, with their cheaper oil production, diversified industry, and full control of the company.
There is a lot of interesting bits, but aside from the slow start, the book has some problems. Most obviously, the book ends around 2016, noting that the next generation has, for the first time, been named crown princes. OK, but the year before this book came out - the lead crown prince conducted a purge to increase his own power. That happened a year before this book came out, so leaving it out is rather interesting. Wald talks to some extent about the relationship between the monarchy and the religious leaders, but it still feels underdeveloped.
Overall, it's a good book, but not without its issues.
It gets off to a slow start. After an interesting opening section about how Abdul Aziz was able to come to power, the book gets bogged down in the early years of Aramco. Much of the first third of the book reads like a dull corporate history, which focuses entirely on top level officials in the company and how oil production was expanded. The book starts to come to life in the middle third, where there is more interaction between the oil company and the kingdom.
Wald argues that the Saudi family has almost always had a clear, long term plan for what they wanted to do and have been fairly effective at getting it. They didn't make a big move to nationalize the oil company. Instead, they invited westerners in, learned from them, and then started to negotiate better deals for themselves - which allowed for even better deals down the road. Thus they were eventually able to take over the company outright, not by confrontation, but via a buyout that let them maintain good business relations. They've had some problems with the ups and downs of oil over the years, but have weathered those storms and tried to learn from them. In the 1980s, they tried to use their oil capacity to influence oil prices - and that didn't work (other OPEC members cheated, and non-OPEC members increased their oil production. So, 30 years later, they learned. During the rise of oil fracking, they (successfully) got OPEC to banish national oil production quotas. This crushed many oil producers, but was easier for the Saudis to weather, with their cheaper oil production, diversified industry, and full control of the company.
There is a lot of interesting bits, but aside from the slow start, the book has some problems. Most obviously, the book ends around 2016, noting that the next generation has, for the first time, been named crown princes. OK, but the year before this book came out - the lead crown prince conducted a purge to increase his own power. That happened a year before this book came out, so leaving it out is rather interesting. Wald talks to some extent about the relationship between the monarchy and the religious leaders, but it still feels underdeveloped.
Overall, it's a good book, but not without its issues.
October 12, 2021
As someone who has known little about Saudi Arabia in the past, I found this to be a very compelling history. Tracing the country from a purely tribal society to a modern wealthy state, from a kleptocracy to a more effective corporate monarchy, Wald makes family drama and economic debacles alike very compelling. And rather than telling the story like any other history, Saudi Arabia is shown through the lens of its economy: specifically, the massive oil company Saudi Aramco.
If you're looking for a book about terrorism or war, you're likely not going to be satisfied with this one, though these topics are all touched on. Saudi Arabia has harbored, funded, and supported terrorists, but Saudis have also been victims of terrorism on numerous occasions at the hands of groups like al-Qaeda and many have worked to fight back. The book disputes the idea that the Saudi Arabian government was connected to 9/11, but in the end it doesn't really matter: Saudi Aramco will profit no matter what.
Saudi Aramco reflects Saudi Arabia, but Wald also shows the ways in which it catered to westerners. The company bred a very different environment within the country, with more liberal customs in its headquarters and associated Americans diligently protected as a result of its profit-making. The deeply misogynistic culture of Saudi Arabia was less so for the empowered women who came into the country to work with and for the company. Culture is part of this book, and Saudi Aramco's culture was unique unto itself.
Even as debates rage as to whether or not the world has reached "peak oil," Saudi Aramco's business is as pivotal as ever. Thanks to the OPEC cartel and the slow buyout of Aramco by the Saudis, the eternal power of monopolies has enriched the Arabian ruling class. In this journey, Wald presents an unbiased yet unflinching look at the company and the country. It's a story that can be thrilling, fascinating, and occasionally even funny. If you want to learn more about Saudi Arabia, this book is a good place to start.
If you're looking for a book about terrorism or war, you're likely not going to be satisfied with this one, though these topics are all touched on. Saudi Arabia has harbored, funded, and supported terrorists, but Saudis have also been victims of terrorism on numerous occasions at the hands of groups like al-Qaeda and many have worked to fight back. The book disputes the idea that the Saudi Arabian government was connected to 9/11, but in the end it doesn't really matter: Saudi Aramco will profit no matter what.
Saudi Aramco reflects Saudi Arabia, but Wald also shows the ways in which it catered to westerners. The company bred a very different environment within the country, with more liberal customs in its headquarters and associated Americans diligently protected as a result of its profit-making. The deeply misogynistic culture of Saudi Arabia was less so for the empowered women who came into the country to work with and for the company. Culture is part of this book, and Saudi Aramco's culture was unique unto itself.
Even as debates rage as to whether or not the world has reached "peak oil," Saudi Aramco's business is as pivotal as ever. Thanks to the OPEC cartel and the slow buyout of Aramco by the Saudis, the eternal power of monopolies has enriched the Arabian ruling class. In this journey, Wald presents an unbiased yet unflinching look at the company and the country. It's a story that can be thrilling, fascinating, and occasionally even funny. If you want to learn more about Saudi Arabia, this book is a good place to start.
March 5, 2025
My sponsor recommended this book as a good read to have a basic understanding of Saudi Arabia. It has piqued my interest, so the next few books I read will likely be about Saudia Arabia. This book was fantastic. The writer's goal was to give us an understanding of how Saudi Arabia and Aramco were established. Essentially, one story cannot be told without the other. I really enjoyed how this book is in chronological order or events, so it was very easy to follow. I know that sounds odd because it's a history book, but the one I'm reading now is not nearly as easy to keep on the timeline. Anyway, through this book I was able to explore how the Al Saud tribe established the Kingdom and its relationship with the US. Because of Aramco, Saudi Arabia was able to amass un unheard of fortune that they continue to grow. While the company began as a Saudi-American company, Saudi Arabia took it over in 1972/3, but the relationship with the US remains inextricably tied and strong. Even in the midst of wars in the Middle East, our dealings with Israel, and our negotiations with Iran, Saudi Arabia continues to be a country that we work very closely with. Aramco still employs Westerners and other foreigners now. This was such a great "gateway" book. I am very happy my sponsor recommended it and I cannot wait to learn more about Saudi Arabia, especially their current Crown Prince Mohammed bin Salman (MBS)/
March 23, 2020
For those interested in how Saudi Arabia has become the global leader in oil markets, this book is a great start. The book narrates the parallel inception of both Saudi Arabia and Saudi Aramco (World's largest company by market-cap) during the first half of 20th century. Ellen takes us through how Al-Saud (the ruling family in Saudi Arabia) consolidated its power and how Aramco helped the the king's family and KSA become powerful players in international politics.
This book also sheds light on US-KSA relations and changes our narrow view of USA's blind eye towards KSA's transgressions (9/11 ). It also details Saudi ruling family's foresight and shrewdness in governing the country and how they managed to transform this oil rich nation to be one of great countries in the world while equally oil-rich neighbors (E.g Iran, Iraq ) didn't manage to do so.
Thoroughly enjoyed;Giving 4 stars.
(KSA-Kingdom of Saudi Arabia)
PS: As I write this review, Saudi and Russia are in a deadlock over crude oil production cuts and Saudi is flooding the markets with its oil to strong arm US & Russia to agree on OPEC imposed cuts. Currently, Brent is trading at low twenties and US Shale oil companies are falling like flies and I fear many will file for bankruptcy soon. It is very interesting to see who wins and at what cost!
-Prudhvi
This book also sheds light on US-KSA relations and changes our narrow view of USA's blind eye towards KSA's transgressions (9/11 ). It also details Saudi ruling family's foresight and shrewdness in governing the country and how they managed to transform this oil rich nation to be one of great countries in the world while equally oil-rich neighbors (E.g Iran, Iraq ) didn't manage to do so.
Thoroughly enjoyed;Giving 4 stars.
(KSA-Kingdom of Saudi Arabia)
PS: As I write this review, Saudi and Russia are in a deadlock over crude oil production cuts and Saudi is flooding the markets with its oil to strong arm US & Russia to agree on OPEC imposed cuts. Currently, Brent is trading at low twenties and US Shale oil companies are falling like flies and I fear many will file for bankruptcy soon. It is very interesting to see who wins and at what cost!
-Prudhvi
August 17, 2021
Saudi Inc is a disappointing book. For starters it should have been titled "USA in Saudi Arabia", as its more about yanks living in Saudi Arabia than about the locals. Even given that contents the shortcomings are many in this book. There are timegaps. A long section of text is repeated in what is a textbook example of poor editing. The focus on Saudi Arabia is often lost in favour of anecdotes about US personnel. Overall it is a drag to read this book, although its not too long. 5 hours reading should suffice. The only excuse is this is a difficult theme to write about due to the royal family in Saudi Arabia being so secretive.
Despite all this Saudi Inc remains a decent primer on what went on in Saudi Arabia, especially around 1950.
Despite all this Saudi Inc remains a decent primer on what went on in Saudi Arabia, especially around 1950.
January 27, 2020
Although the book title says saudi inc it really is about aramco , worlds most profitable business, and its relationship with ruling dynasty in Saudi arabia the Al saud family. It starts from around 1920 to modern days and explain in details aramcos journey from its humble beginnings to a global mammoth of a corporation, currently capitalized just about combined total of Microsoft and apple added together.
Written in a well paced and engaged manner. I gave a star less due to the fact that writer carefully avoided all the atrocities carried by ruling al saud regime all over the world and off course to its own subjects. No money is ever made without spilling blood of innocent ....
Written in a well paced and engaged manner. I gave a star less due to the fact that writer carefully avoided all the atrocities carried by ruling al saud regime all over the world and off course to its own subjects. No money is ever made without spilling blood of innocent ....
April 28, 2020
A nice introductory and panoramic view of the past and present of the kingdom.
The key theme runs neatly throughout: the decision makers in Saudi have the sole goal to keep the power and profit of the nation for he long run.
I definitely learnt a lot from this book, although some of the parts portray the decision makers of the kingdom as almost “too correct and too wise” for me.
But I guess to make the book easy to understand and to provide the most important storyline without too much of a distraction, such simplification sometimes does happen.
I would recommend reading this together with the Oil Kings.
The key theme runs neatly throughout: the decision makers in Saudi have the sole goal to keep the power and profit of the nation for he long run.
I definitely learnt a lot from this book, although some of the parts portray the decision makers of the kingdom as almost “too correct and too wise” for me.
But I guess to make the book easy to understand and to provide the most important storyline without too much of a distraction, such simplification sometimes does happen.
I would recommend reading this together with the Oil Kings.
December 8, 2019
While the book reads like a hagiography of the ruling Al Saud dynasty, it is a really good source of information on the rise of Saudi oil industry and that beamoth - Saudi Aramco. The author tries to dissect the Saudi mindset and strategy, which helped the kingdom remain stable and prosper while oil rich neighbors like Iraq and Iran struggled with violence and a laggard oil infrastructure. The book at some points laughably tries to create a sense of balance on topics such as women rights and freedom of thought in Saudi Arabia. We know that the country remains one of worst places for women and free thinking people. However, keeping in mind that the author is writing about an industry which is dominated by Saudis and is trying to reach readers that are more interested in Saudi Arabian oil than its human rights record, even discussing these topics is appreciative. Finally, the author herself admits that most of the book relies on foreign sources of information such as accounts by European and US diplomats as well as state department cables. This makes the book less representative of the Saudi lens and more of a reflection of the western mindset. This is understandably due to Saudi Arabia's notorious sense of secrecy as well as lack of written accounts by Saudi people who played a major role in the Saudi history. Still the book is nicely written, with a steady pace of events and gives a well rounded view of Saudi oil industry. I would recommend it to anyone involved or working in oil industry, especially journalists.
April 11, 2019
This books narrates quite interestingly the genesis and evolution of the modern day Saudi Aramco and how through that we can get a keyhole view of the way Saudi Arabia's economic principles and policies works.
I will recommend this book to people who are interested in knowing how Saudi Arabia was able to avoid the "Dutch disease" and why Saudi Aramco is such a huge stakeholder in the global economy.
I will recommend this book to people who are interested in knowing how Saudi Arabia was able to avoid the "Dutch disease" and why Saudi Aramco is such a huge stakeholder in the global economy.
November 14, 2018
Good short overview of the development of modern Saudi Arabia, with a focus on the founding, growth and nationalization of Aramco, and of the motives behind OPEC and energy policies and partnerships over the years. Very topical in the context of continuing traditional customs reflected in controversial domestic and foreign policies.
Displaying 1 - 30 of 64 reviews