Saudi Aramco became the first listed company outside the United States to exceed US$2 trillion in market value in 2019.
The valuation followed the company’s initial public offering on the Saudi Stock Exchange, known as Tadawul. Saudi Aramco’s enormous oil reserves, production scale, and strategic importance to Saudi Arabia made its listing one of the most closely watched offerings in financial history.
Saudi Aramco’s shares began trading in December 2019. Its valuation quickly moved above the US$2 trillion mark, although market prices later fluctuated. The company remains distinct from Saudi Arabia’s government, even though the government owns a controlling stake.
The company’s name combines “Saudi” with “Aramco,” historically associated with the Arabian American Oil Company. It is one of the world’s largest integrated energy companies.