Aramco

Aramco, officially the Saudi Arabian Oil Company, is a Saudi state-owned multinational energy corporation. It is among the largest integrated oil and gas companies in the world, with operations spanning exploration and production, refining, chemicals, distribution, and shipping. The company controls substantial crude oil and natural gas reserves and maintains a global presence through its subsidiaries and joint ventures. Aramco's resources are anchored by large fields such as Ghawar, the world's largest conventional oil field, and Safaniya, Khurais, and Manifa. Its crude production capacity is about 12 million barrels per day, making it a central player in global energy markets.

Aramco traces its origins to 1933, when a concession with the California-based Standard Oil led to the creation of California-Arabian Standard Oil. It was later renamed Arabian-American Oil Company (ARAMCO). Beginning in the 1970s, the Saudi government increased its ownership and control, and in 1980 the company adopted the Saudi Aramco name. In 2019 the company conducted a partial initial public offering on the Saudi stock exchange, Tadawul, selling a small stake while retaining majority state ownership.

Governance is provided by a board of directors appointed by the Saudi government, with the Chief Executive Officer (as of 2024) Amin H. Nasser overseeing day-to-day management. The company remains a central pillar of the Saudi economy and a major supplier of energy to global markets.

In pursuit of its strategy, Aramco pursues downstream expansion, petrochemicals, and low-carbon technologies, including carbon capture, hydrogen, and other initiatives. It has stated goals to reduce the carbon intensity of its operations and to achieve net-zero emissions from its own activities by 2060.