Value of total assets of Saudi Aramco 2017-2023
The total value of assets of Saudi Aramco in 2022 was approximately 660.78 billion U.S. dollars. Saudi Aramco was ranked one of the most profitable companies worldwide according to its credit rating.
Saudi Aramco
Saudi Aramco is a major player amongst global oil companies. The Saudi oil company is a global leader in crude oil production, producing almost 10 million of barrels per day. Recently, Aramco reported a net income of over 100 billion U.S. dollars.
IPO as part of Vision 2030
The Saudi Arabian crown prince Mohammad bin Salman first announced in 2016 his plans to make Saudi Aramco public as part of his Vision 2030 project. The fundamental idea of his agenda was to bring socio-economical reforms to Saudi Arabia in order to make it a strong and globally compatible country for future generations to come. A main part of those reforms was for the kingdom to wean itself off oil rents and its dependency on them, and to diversify its economy to bring new prospects and employment options for its citizens. All of this was supposed to be financed by the initial public offering of its leading state-owned oil enterprise Saudi Aramco. After many delays, the much anticipated first stage of Saudi Aramco’s initial public offering took place in December 2019. About two to three percent of Saudi Aramco’s shares were sold as “Tadawuls” on the Saudi Stock Exchange for over 30 billion U.S. dollars, making it the largest IPO of all time. In a later planned second stage of the IPO, Saudi Aramco’s shares will be traded on international stock exchanges.
