Saudi Aramco is the Saudi company known as the world's largest integrated oil producer by market value.
Saudi Aramco, formally Saudi Arabian Oil Company, manages petroleum exploration, production, refining, chemicals, and distribution. The company is headquartered in Dhahran and operates the world's largest single hydrocarbon network in Saudi Arabia.
Its roots trace to the California-Arabian Standard Oil Company, established in 1933. The Saudi government gradually took ownership, and Saudi Aramco became fully state-owned in 1988. The company went public on the Saudi Exchange in December 2019, in one of the world's largest initial public offerings.
Saudi Aramco's valuation is closely tied to oil prices, production expectations, and its enormous reserves. It is often confused with Saudi Arabia's government itself, but Aramco is a corporation in which the state remains the dominant shareholder.