Saudi Aramco was the world’s first publicly traded firm to surpass US$2 trillion in market value.
Saudi Aramco crossed the US$2 trillion threshold in December 2019, shortly after its initial public offering on the Saudi Exchange. The company’s shares began trading in Riyadh in December 2019, making the listing one of the most closely watched public offerings in financial history.
Saudi Aramco grew from the oil concessions and production operations that developed in Saudi Arabia during the 20th century. It became a national oil company and one of the world’s largest integrated energy businesses, involved in exploration, production, refining, chemicals, and distribution.
The company’s valuation is strongly influenced by oil prices, production expectations, reserves, dividends, and investor sentiment. Its market capitalization should not be confused with the value of Saudi Arabia’s total petroleum reserves. Saudi Aramco is listed in Riyadh, while its American depositary receipts are not the basis of its main listing.