Through its subsidiary company, the Bahrain Petroleum Co. Standard Oil of California (SoCal) was among those US companies seeking new sources of oil from abroad. The US administration had popular support for an " Open Door policy", which Herbert Hoover, secretary of commerce, initiated in 1921. Saudi Aramco's origins trace to the oil shortages of World War I and the exclusion of American companies from Mesopotamia by the United Kingdom and France under the San Remo Petroleum Agreement of 1920. In the 2023 Forbes Global 2000, Saudi Aramco was ranked as the 2nd-largest public company in the world.
The shares rose to 35.2 Saudi riyals, giving it a market capitalisation of about US$1.88 trillion, and surpassed the US$2 trillion mark on the second day of trading. On 11 December 2019, the company's shares commenced trading on the Tadawul stock exchange. Along the Eastern Province, Saudi Aramco most notably operates the Ghawar Field (the world's largest onshore oil field) and the Safaniya Field (the world's largest offshore oil field). In 2013 crude oil production total was 3.4 billion barrels (540 million cubic metres), 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 world's largest single hydrocarbon network, the Master Gas System. Saudi Aramco has both the world's second-largest proven crude oil reserves, at more than 270 billion barrels (43 billion cubic metres), and largest daily oil production of all oil-producing companies. It has repeatedly achieved the largest annual profits in global corporate history. As of 2022, it is the second largest company in the world by revenue and is headquartered in Dhahran. Saudi Aramco ( Arabic: أرامكو السعودية ʾArāmkū as-Suʿūdiyyah), officially the Saudi Arabian Oil Group or simply Aramco, is the state owned petroleum and natural gas company of Saudi Arabia. SABIC (Saudia) (70%), Petro Rabigh, SATORP, Aramco Trading, Yanbu, Yasref, SASREF, S-Oil, Luberef, Aro Drilling, South Rub al-Khali, Pengerang Refining Company, The International Maritime Industries
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