Saudi Aramco became the first publicly listed company valued above $2 trillion in December 2019.
The milestone followed Saudi Aramco’s initial public offering on the Saudi Stock Exchange, known as Tadawul. The company sold shares at an offering price that valued the oil producer at about $1.7 trillion, and its share price then rose enough to take its market capitalization above $2 trillion.
Saudi Aramco is the national oil company of Saudi Arabia and operates some of the world’s largest oil reserves and production assets. Its valuation is closely linked to oil prices, production expectations, and the company’s strategic importance to the Saudi economy.
The $2 trillion figure is a market value, not a direct estimate of the underground value of every barrel of oil. It can also differ from estimates based on private transactions or government-owned shares.