Saudi Aramco

Overview

Saudi Aramco is the national oil and gas company of Saudi Arabia and one of the largest companies in the world by revenue and market value. It manages the Kingdom's hydrocarbon reserves and production.

History

The company traces its origins to the 1933 concession granted to the California Arabian Standard Oil Company, which made the Dammam No. 7 discovery in 1938. It was nationalised progressively and became fully Saudi-owned in 1980.

Operations

Aramco operates the world's largest oil production and export system, with major fields including Ghawar, and significant gas production. It also operates refineries and petrochemical interests.

Listing

In 2019 the company listed a minority stake on the Saudi Exchange in one of the largest share offerings in history.

Diversification

Aramco has invested in refining, chemicals, and in lower-carbon technologies including hydrogen and carbon capture.