Saudi Aramco is a Saudi Arabian multinational petroleum and natural gas company. It is one of the largest integrated oil and gas companies in the world and the most profitable company in the world. Aramco has its headquarters in Dhahran, Saudi Arabia, and was founded in 1933 as the California-Arabian Standard Oil Company.
Aramco's operations include the exploration, production, refining, distribution, shipping, and marketing of hydrocarbons. The company has the largest oil reserves in the world, estimated at more than 260 billion barrels, and produces around 10 million barrels of oil per day. In addition, Aramco is a major producer of natural gas, with reserves estimated at more than 300 trillion cubic feet.
Aramco is wholly owned by the Saudi Arabian government and is the country's largest source of revenue. In December 2019, Aramco became a publicly traded company, with an initial public offering (IPO) on the Saudi Stock Exchange (Tadawul). The IPO raised $25.6 billion, making it the largest IPO in history.