Saudi Aramco is the Saudi company known as the world’s largest oil producer by revenue and one of the largest companies by market value.
Saudi Aramco is formally the Saudi Arabian Oil Company. It operates across oil and gas exploration, production, refining, chemicals, and distribution. The company’s assets include some of the world’s largest conventional oil reserves.
Saudi Aramco’s initial public offering took place on the Saudi Stock Exchange in December 2019. The offering made it one of the most valuable listed companies and gave public investors a stake while the Saudi government retained majority ownership.
Saudi Aramco is often confused with international oil majors such as ExxonMobil, Shell, and BP. Those companies operate globally, but Saudi Aramco is closely tied to Saudi Arabia’s petroleum resources and remains majority owned by the Saudi state.