Saudi Aramco

Saudi Aramco (Arabic: أرامكو السعودية ʾArāmkū as-Suʿūdiyyah), officially the Saudi Arabian Oil Company, is a majority state-owned petroleum and natural gas company, and the national oil company of Saudi Arabia. As of 2024, it is the fourth-largest company in the world by revenue and is headquartered in Dhahran. Saudi Aramco has both the world's largest proven crude oil reserves, at more than 270 billion barrels (43 billion cubic metres), and largest daily oil production of all oil-producing companies. Saudi Aramco operates the world's largest single hydrocarbon network, the Master Gas System. In 2024, its oil production total was 12.7 million barrels of oil equivalent per day, and it manages over one hundred oil and gas fields in Saudi Arabia, including 288.4 trillion standard cubic feet (scf) of natural gas reserves. Along the Eastern Province, Saudi Aramco most notably operates the Ghawar Field (the world's largest onshore oil field) and the Safaniya Field (the world's largest offshore oil field). On 11 December 2019, the company's shares commenced trading on the Saudi Exchange. The shares rose to 35.2 Saudi riyals, giving it a market capitalisation of about US$1.88 trillion, and surpassed the US$2 trillion mark on the second day of trading. As of November 2025 the stock trades at 25.8 SAR, giving it a market capitalisation of approximately US$1.66 trillion. This represents an US$800bn fall in value since 2022, one of the largest decreases in corporate history. In 2024, Saudi Aramco was responsible for more CO2 emissions than any other entity, taking into account Scope 3 emissions from use of the oil it sells; it was responsible for 1,653 Mt CO2 emissions, or 4.28% of global CO2 emissions. In the 2020s, Saudi Aramco became heavily involved in sports being a FIFA and Formula One partner, including constructor Aston Martin.