…Podolia.

As early as 1923, Ibn Sa'ud had granted an oil-prospecting concession to a British company, but this concession was never exploited.

After a long search for oil that has lasted around four years without success, the first accomplishment of Standard oil of California is in Dhahran in 1938, a well referred to as Dammam number 7.

The discovery of this well gives the company the hope to continue and flourish.

Standard Oil of California had sold shares in its Saudi Arabian concession to the Texas Oil Company in 1936.

In 1944, the company operating the concession, California-Arabian Standard Oil Company, takes the name Arabian-American Oil Company, or Aramco.

The Ras Tanura refinery opens in 1945.

Rapid expansion of the oil industry follows because of the increasing postwar demand.

The United States becomes the most influential foreign power in Saudi Arabia.

American interest is directed toward the oil industry, which is owned by US companies.

A considerable number of employees of Aramco arrive in Saudi Arabia, as the country itself is unable to supply the oil company with sufficient skilled workers.

Aramco pays more taxes to the US government in 1949 than the yield to Saudi Arabia in royalties.

The Saudi leadership obtains a new agreement in 1950 that requires Aramco to pay to the Saudis an income tax of fifty percent of the net operating income.