Saudi Aramco is majority-owned by the Saudi Arabian government and listed on the Saudi Exchange.
Saudi Aramco traces its origins to a 1933 concession granted to the Standard Oil Company of California. Oil production began at Dammam Well No. 7 in 1938, helping establish Saudi Arabia as a major petroleum producer.
The company was fully nationalized in the 1980s and is formally known as Saudi Arabian Oil Company. Its activities include exploration, production, refining, chemicals, and marketing, giving it a position across much of the energy value chain.
Saudi Aramco became publicly listed in 2019 in one of the world's largest initial public offerings. It is often confused with Saudi Arabia's sovereign wealth fund, the Public Investment Fund, but Aramco is an operating energy company while the fund is an investment institution.