Saudi Aramco, officially the Saudi Arabian Oil Company (formerly Arabian-American Oil Company), is a Saudi Arabian national petroleum and natural gas company based in Dhahran, Saudi Arabia.
It is one of the largest companies in the world by revenue, and according to accounts seen by Bloomberg News, the most profitable company in the world. Saudi Aramco has both the world’s second-largest proven crude oil reserves, at more than 270 billion barrels (4.3×1010 m3), and second-largest daily oil production.
Saudi officials have backed an official figure of $2 trillion for Saudi Aramco’s value. The company’s financial data were leaked in April 2018, and according to Bloomberg’s analysts the company could be valued at $1.2 trillion, a significantly lower sum.
Saudi Aramco operates the world’s largest single hydrocarbon network, the Master Gas System. Its 2013 crude oil production total was 3.4 billion barrels (540,000,000 m3), and it manages over one hundred oil and gas fields in Saudi Arabia, including 288.4 trillion standard cubic feet (scf) of natural gas reserves. Saudi Aramco operates the Ghawar Field, the world’s largest onshore oil field, and the Safaniya Field, the world’s largest offshore oil field.
On 9 April 2019, Aramco has raised $12 billion of bonds. Its first international bond issue has received more than $100 billion in orders from foreign investors which breaks all records for a bond issue by an emerging market entity.
On Wednesday, 12 June 2019, Aramco has reported its net income at $111.1 billion in 2018 compared to $75.9 billion in 2017, this with total revenues at $355.9 billion in 2018. By first half of 2019, Aramco reported a net income of $46.9 billion.