Saudi Aramco is the Saudi company partly listed on the Tadawul in 2019 and among the world’s largest companies by market value.
Saudi Aramco is the short name of Saudi Arabian Oil Company, the national oil company of Saudi Arabia. Its roots reach back to the California-Arabian Standard Oil Company, established in 1933. The Saudi government took increasing ownership before the company became fully state-owned in 1980.
The company operates across oil and gas exploration, production, processing, refining, chemicals, and distribution. Its enormous hydrocarbon reserves and production capacity have made it one of the most financially significant energy companies ever created.
Saudi Aramco’s initial public offering began on the Saudi Stock Exchange, known as the Tadawul, in December 2019. The offering sold a minority stake; the Saudi government retained control. Market values for oil companies can change substantially with crude prices and energy-market expectations.