Saudi Aramco is majority-owned by Saudi Arabia and is among the world's largest companies by market capitalization.
Saudi Aramco is the short name of Saudi Arabian Oil Company, the national oil company of Saudi Arabia. The Saudi government retains majority ownership, while a portion of the company is publicly traded on the Saudi Exchange. Its enormous oil and gas reserves and production capacity underpin its exceptional valuation.
The company's roots reach back to the California-Arabian Standard Oil Company, established in 1933. Ownership gradually shifted to Saudi Arabia, and the enterprise became fully state-owned in 1980. Saudi Aramco's initial public offering took place in 2019.
Its market value can vary with oil prices, production expectations, company earnings, and investor sentiment. It is therefore not accurate to treat a single ranking as permanent, even though Aramco consistently appears near the top of global market-cap lists.