Saudi Aramco was the world’s most valuable listed oil producer after its 2019 stock-market debut.
Saudi Aramco began trading on the Saudi Exchange in December 2019 after an initial public offering. The offering valued the company at about $1.7 trillion, making it the largest initial public offering by value at that time.
The company is formally known as Saudi Arabian Oil Company. It operates major oil and gas production, refining, and distribution businesses and is majority owned by the Saudi Arabian government.
Market capitalization rankings compare the value of publicly traded equity. They do not directly measure daily oil output, proven reserves, or government ownership. Those measures can produce different rankings and should not be treated as interchangeable with market cap.