Saudi Aramco was originally called the California-Arabian Standard Oil Company.
The company was created in 1933 after Saudi Arabia granted an oil concession to Standard Oil of California. Its name reflected both the concession’s location and its original corporate sponsor. The company later became known as Arabian American Oil Company, shortened to Aramco.
Major oil discoveries in eastern Saudi Arabia transformed the company and the country. Commercial production began at Dammam in 1938, and the discovery of the Ghawar field after World War II established Saudi Arabia as a leading petroleum power.
Saudi Arabia gradually increased its ownership. The company became fully owned by the Saudi government in 1980 and was formally renamed Saudi Arabian Oil Company, while Saudi Aramco remained the familiar brand. It is one of the world’s largest integrated petroleum companies, operating in exploration, production, refining, chemicals, and distribution.