Saudi Aramco became the first company to surpass a $2 trillion market capitalization in January 2022.
Saudi Aramco is Saudi Arabia’s national petroleum and natural-gas company. It is one of the world’s largest integrated energy businesses, with operations that include exploration, production, refining, chemicals, and distribution.
The company’s initial public offering took place on the Saudi stock exchange, Tadawul, in December 2019. The listing made Saudi Aramco one of the most valuable publicly traded companies, although the Saudi government retained the overwhelming majority of its shares.
Oil prices, production expectations, dividends, and geopolitical developments can all affect Saudi Aramco’s market value. Its market capitalization is not the same as Saudi Arabia’s oil reserves or government revenue. The $2 trillion milestone refers specifically to the stock-market value of its listed equity.