Saudi Aramco was the first non-American business to exceed a $2 trillion market capitalization.
The Saudi Arabian Oil Company, commonly known as Saudi Aramco, briefly passed the $2 trillion level in May 2022 as oil prices and energy shares rose. The company’s shares trade on the Saudi Exchange, known as Tadawul, after its 2019 initial public offering.
Saudi Aramco is one of the world’s largest integrated energy companies. Its operations include crude-oil exploration and production, refining, chemicals, shipping, and marketing. Saudi Arabia remains its controlling shareholder, making the company especially important to the country’s economy and public finances.
Market capitalization should not be confused with annual revenue, proven reserves, or enterprise value. Those measures answer different questions and can produce different rankings. Saudi Aramco’s market value also moves with oil prices and investor expectations.