Saudi Aramco, listed in 2019, is the world's largest integrated oil company by daily crude-oil production capacity.
Saudi Aramco is formally known as the Saudi Arabian Oil Company. Its history began with an oil concession granted to Standard Oil of California in 1933. Commercial oil production began in the 1930s, and the Saudi government gradually increased its ownership before taking full control in the 1980s.
The company operates across exploration, production, refining, chemicals, and distribution. Its enormous reserves and production scale have made it one of the most important energy businesses in the world and one of the few companies commonly compared with the largest technology firms by market capitalization.
Saudi Aramco's initial public offering took place in 2019 on the Saudi Exchange, known as Tadawul. It was one of the largest initial public offerings ever completed. The company is not the same as Saudi Arabia's government, although the state remains its controlling shareholder.