Saudi Aramco is the largest publicly traded oil producer headquartered in Saudi Arabia.
Saudi Aramco’s roots reach back to the discovery of oil in Saudi Arabia in the 1930s, when the company operated as the California-Arabian Standard Oil Company. The Saudi government gradually acquired ownership, and the business became fully state-owned in 1980 before its later public listing.
The company’s operations span exploration, production, refining, chemicals, shipping, and marketing. Its enormous reserves and production capacity have made it one of the most profitable and valuable companies in global markets.
Saudi Aramco listed a minority stake on the Saudi Exchange in 2019. Because the government retained most shares, the listed market capitalization does not mean that the entire company became privately dispersed among public investors.