Saudi Aramco, listed on the Tadawul exchange in 2019, is one of the world’s largest publicly traded oil producers by market value. The company is formally known as Saudi Arabian Oil Company and is central to Saudi Arabia’s petroleum industry.
Aramco traces its origins to an oil concession granted in 1933 to Standard Oil of California. Commercial production began after oil was discovered at Dammam Well No. 7 in 1938. The Saudi government gradually acquired ownership, completing nationalization in the 1980s.
Its market value is strongly influenced by oil prices, production expectations, reserves, and dividend policy. Aramco’s 2019 initial public offering made a portion of the company available to public investors, while the Saudi government remained its controlling shareholder.