State-owned oil giant Saudi Aramco doubled its profits in 2021 from the year prior as oil prices skyrocketed to keep up with demand from the post-COVID travel boom; its $105.4 billion in profits were the highest of any company in the Global 500. Oil prices climbed even further in early 2022—at one point hitting $110 per barrel—following Russia’s invasion of Ukraine. The surge briefly made Saudi Aramco the world’s most valuable company, ahead of Apple, and the oil giant’s market cap remained well above $2 trillion in mid-2022. The energy crisis caused by the Russia-Ukraine conflict has given the company fresh incentive to pump more oil in coming years despite government and corporate pledges to reduce reliance on fossil fuel; Saudi Aramco has said it wants to reach 13 million barrels a day by 2027.
Maya Siddiqui—Bloomberg/Getty Images
Company Information
As of 8/3/2022
Country
Saudi Arabia
Headquarters
Dhahran, Saudi Arabia
Industry
Mining, Crude-Oil Production
CEO
Amin H. Nasser
Website
Company Type
Public
Ticker
-
Revenues ($M)
$400,399
Profits ($M)
$105,369
Market Value ($M)
$2,269,100
Employees
68,493
Figures prepared in accordance with International Accounting Standards. Government owned 50% or more. Market value as of July 19, 2022.
Key Financials (Last Fiscal Year)As of 8/3/2022
($ Millions)
% change
Revenues ($M)
$400,399.1
74.3%
Profits ($M)
$105,369.1
113.8%
Assets ($M)
$576,133.5
-
Total Stockholder Equity ($M)
$296,568
-
Profit RatiosAs of 8/3/2022
Profit as % of Revenues
26.3%
Profits as % of Assets
18.3%
Profits as % of Stockholder Equity
35.5%
Saudi Aramco Rank History
Historical Data
| Year | Revenues ($M) | Profits ($M) | Assets ($M) | Total Stockholder Equity ($M) |
|---|---|---|---|---|
| 2021 | $229,766-30.3% | $49,287-44.1% | $510,266 | $264,121 |
| 2020 | $329,784-7.3% | $88,211-20.5% | $398,349 | $275,959 |
| 2019 | $355,90535.3% | $110,97546.9% | $358,873 | $271,062 |
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