Saudi Aramco became the world's largest publicly traded oil producer after its 2019 stock-market listing.
Saudi Aramco is the short name of Saudi Arabian Oil Company, the national oil company of Saudi Arabia. Its origins trace to a 1933 concession granted to Standard Oil of California, later known as Chevron. Commercial oil production began at Dammam in 1938.
The company’s initial public offering took place on the Saudi Stock Exchange, or Tadawul, in December 2019. The offering raised about 25.6 billion U.S. dollars, making it one of the largest IPOs ever at the time. The Saudi government retained majority ownership.
Saudi Aramco is often discussed alongside technology companies in market-cap rankings. Its valuation is strongly linked to oil prices, production capacity, reserves, and investor expectations. It is not the same company as Saudi Basic Industries Corporation, a major chemicals producer.