Saudi Aramco was valued at about $1.9 trillion when its initial public offering launched in 2019.
Saudi Aramco, formally Saudi Arabian Oil Company, is the national oil company of Saudi Arabia. Its roots reach back to the 1933 concession that led to the discovery of commercial oil near Dammam in 1938.
The company’s 2019 listing on the Saudi Stock Exchange, known as Tadawul, sold a minority stake. The offering raised billions of dollars and made it one of the largest IPOs ever completed.
The valuation is often compared with technology companies because Saudi Aramco has at times ranked among the world’s most valuable publicly traded businesses. Its market value is strongly influenced by oil prices, production expectations, and global energy demand.