Aramco Market Impact

Aramco Intro

Ranked as the second largest company in the world. The Saudi Arabian Oil Firm, also known as Saudi Aramco or simply Aramco, is the country’s state-owned oil company (its name is a contraction of Arabian American Oil Company). It controls almost all of the kingdom’s hydrocarbon resources and produces more oil than any other company in the world. The city of Dhahran, in the east of the country, serves as its administrative centre. Ghawar, the world’s largest oil field, is its main oilfield.

Aramco Chronicle

The history of Saudi Aramco begins on 29 May 1933, when the Saudi government signed a concession agreement with Standard Oil of California to explore for oil in Saudi Arabia, thanks to the intervention of Karl Twitchell. The first wells were drilled in Dammam in April 1935, to a depth of nearly 700 metres. Six wells were drilled between 1935 and 1936. Saudi Arabia exported crude oil for the first time in May 1939, from the Ras Tanura field. In 1944, the company name was changed to Arabian American Oil Company.

Market capitalisation

Saudi Aramco’s market capitalisation was 1,905 billion of dollar as of 22 December. According to our data, this makes Saudi Aramco the second most valuable company in the world in terms of market capitalisation. Market capitalisation, also known as market capitalisation, is the total market value of a publicly traded company’s outstanding shares and is generally used to determine the value of a company.