AnalysisEconomy / FinanceMiddle East

How Saudi Aramco Became the World’s Biggest Oil Company


Aramco has long been one of the main pillars of Saudi Arabia’s economy. The industry it leads transformed the country into a powerhouse for oil production and export and gave it global significance. ‘Opening up shares in the state oil firm to domestic and global investors has helped its $3tn valuation, leaving it in the top three firms by market capitalisation, behind only U.S. tech giants’ Widely seen as the most influential company in world energy markets, it was founded in 1933, when a concession agreement was signed between the Kingdom of Saudi Arabia and the Standard Oil Company of…

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