Saudi Aramco is the world’s largest publicly traded oil producer and Saudi Arabia’s national oil company.
The company, formally Saudi Arabian Oil Company, operates across exploration, production, refining, chemicals, and distribution. Its enormous reserves and production capacity have made it one of the most valuable companies ever listed on a stock exchange.
Saudi Aramco’s roots reach back to the discovery of oil in Saudi Arabia in the 1930s. The company was previously associated with the Arabian American Oil Company before becoming fully owned by the Saudi government in 1980.
Saudi Aramco began trading publicly in December 2019. Its initial public offering on the Saudi Exchange raised about $25.6 billion, making it the largest IPO at that time. The company is often compared with technology giants because both its profits and market value can be exceptionally large.