Saudi Aramco was the first company in the Middle East to reach a $2 trillion market capitalization.
The Saudi Arabian oil company reached the valuation shortly after its 2019 stock-market listing, when its shares traded at the upper end of the range supported by the Saudi government. Saudi Aramco is one of the world’s largest integrated energy companies and controls enormous petroleum reserves and production capacity.
Its valuation became a subject of debate because oil prices, production expectations, government ownership, and geopolitical conditions all affect how investors value the business. The company’s shares trade on the Saudi Exchange, also known as Tadawul.
This milestone is separate from Saudi Aramco’s initial public offering record. The IPO’s proceeds and the company’s total market capitalization are different measurements.