Saudi Aramco became the first public corporation to reach a $1 trillion valuation in the Middle East.
Saudi Aramco is the national oil company of Saudi Arabia and one of the largest integrated energy companies in the world. Its roots trace to the discovery and development of Saudi oil resources, and the Saudi government has owned the company since nationalization was completed in the 1980s.
The company listed shares on the Saudi Exchange in December 2019. Its initial public offering was the largest in history at the time, raising about $25.6 billion. Saudi Aramco’s market value is influenced heavily by oil prices, production expectations, and energy policy. It should not be confused with the privately held national oil companies of several neighboring states.