Saudi Aramco

Saudi Aramco, officially the Saudi Arabian Oil Company, stands as the world's largest petroleum enterprise. The company formed in 1933 after a concession agreement between Saudi Arabia and Standard Oil of California.

Today, Saudi Aramco produces approximately 12 million barrels of crude oil daily. The company serves global markets and maintains the world's second-largest proven crude oil reserves.

Headquartered in Dhahran, Saudi Arabia, Aramco operates as a public company. The firm completed its record-breaking initial public offering in December 2019 on the Tadawul stock exchange.

About Saudi Aramco

Sector Energy
Industry Oil and Gas
CEO Amin H. Nasser
Website aramco.com
Headquarters Dhahran, Saudi Arabia
Founded 1933
Status Public

Saudi Aramco Founders

Standard Oil of California (Socal)
Original Concession Holder
King Abdulaziz ibn Saud
Granted Original Concession
Lloyd Hamilton
Socal Lead Negotiator
Abdullah Sulaiman
Saudi Finance Minister

Saudi Aramco History

1933 Saudi government signs concession agreement with Standard Oil of California, forming California-Arabian Standard Oil Company.
1938 Commercial quantities of oil discovered at Dammam Well No. 7, marking Saudi Arabia's first major petroleum find.
1980 Saudi government completes full nationalization, acquiring 100% ownership from American partner companies.
1988 Company officially renamed Saudi Arabian Oil Company (Saudi Aramco) under royal decree.
2019 Completes world's largest IPO at $25.6 billion, listing on the Tadawul exchange.

FAQs

Who owns Saudi Aramco?

The Saudi government owns approximately 98% of Saudi Aramco through the Public Investment Fund. The remaining shares trade publicly on the Tadawul stock exchange following the 2019 IPO.

When did Saudi Aramco come out?

Saudi Aramco went public on December 11, 2019. The company listed on Saudi Arabia's Tadawul exchange in what became the world's largest initial public offering at $25.6 billion.

Is Saudi Aramco an American company?

No. Saudi Aramco is a Saudi Arabian company headquartered in Dhahran. American oil companies founded its predecessor in 1933, but Saudi Arabia completed full nationalization by 1980.

Who made Saudi Aramco logo?

Saudi Aramco's current logo was developed internally during the 1988 rebranding. The green and blue design represents oil and water, reflecting the company's core business operations.