Saudi Arabian Oil Company

Saudi Arabian Oil Company, widely known as Saudi Aramco, is a Saudi Arabian state-owned petroleum and natural gas company headquartered in Dhahran, tracing its origins to a 1933 concession agreement that created the Californian-Arabian Standard Oil Company, later renamed the Arabian American Oil Company (Aramco), before the Saudi government progressively nationalized it between the 1970s and 1980. It is the world's largest oil producer by output and one of the most profitable companies in the world, and its 2019 initial public offering on the Saudi stock exchange was among the largest IPOs in history.