Saudi Aramco was the first Middle Eastern firm to surpass a $2 trillion market capitalization.
Saudi Aramco briefly exceeded a $2 trillion valuation during trading on December 11, 2019, shortly after its shares began trading publicly on the Saudi Stock Exchange. Its initial public offering was one of the largest in history and attracted worldwide attention.
Saudi Aramco is Saudi Arabia’s state-controlled petroleum and natural-gas company. It operates major oil fields, refineries, pipelines, and international energy businesses. Its valuation is especially sensitive to oil prices, production expectations, dividends, and investor views about the long-term energy transition.
The $2 trillion figure was a market value, not a direct estimate of all oil reserves underground. The company’s shares are listed in Riyadh, and its stock symbol is 2222.