Saudi Aramco operates the world’s largest commercial oil reserves and became the first company to exceed a $2 trillion market value after its public listing.
Saudi Aramco is the national oil company of Saudi Arabia. Its initial public offering took place on the Saudi Stock Exchange, Tadawul, in December 2019. The company’s enormous reserves, production capacity, and profitability made it one of the largest businesses ever brought to public markets.
Saudi Aramco’s market value is linked mainly to oil prices, production expectations, and investor assessments of the energy sector. Market capitalization should not be confused with the estimated value of all oil still underground, because reserves are not identical to immediately realizable corporate value.
The company traces its origins to an oil concession granted in 1933. Saudi Arabia gradually acquired ownership, and the business became fully state-owned in 1980.