Saudi Aramco is the world’s largest publicly traded oil producer and was listed on the Saudi Stock Exchange in 2019.
The company, formally Saudi Arabian Oil Company, is Saudi Arabia’s national oil company. Its initial public offering in December 2019 became one of the largest stock-market listings ever, giving investors a direct stake in a small portion of the business.
Saudi Aramco’s operations include crude-oil exploration and production, refining, chemicals, and distribution. Its enormous reserves and production capacity have made it a frequent member of lists ranking companies by market capitalization.
The company is not the same as the Saudi Arabian government, although the government remains its controlling shareholder. That distinction matters when comparing a listed company’s market value with the value of a country’s broader natural resources.