Saudi Aramco became the first publicly listed oil company to reach a US$2 trillion market capitalization.
The Saudi Arabian Oil Company reached that approximate valuation shortly after its initial public offering in December 2019. Shares began trading on the Saudi Stock Exchange, known as Tadawul, and rose sharply during the first days of trading. The listing made Saudi Aramco one of the most valuable publicly traded companies in the world.
Saudi Aramco is the national oil company of Saudi Arabia and operates some of the world’s largest oil reserves and production facilities. Its valuation reflects the scale of its hydrocarbon resources, export capacity, profitability, and importance to the Saudi economy.
The company’s market capitalization has moved below and above the US$2 trillion level as oil prices, production expectations, and investor sentiment changed. A market-cap ranking is therefore a snapshot rather than a permanent league table.