Did You Know? – Saudi Aramco : A Firm Double than the Size of Apple inc.
The world’s most valuable company may not be Apple Inc.
That dignity could instead belong to Aramco, as Saudi Arabian National Oil Company is better known. The sprawling state-owned producer, sitting a top one-fifth of the world’s petroleum reserves, pumps more crude than the top four publicly traded oil companies combined. Crown Prince Mohammed bin Salman, the Saudi king’s potent son who’s driving the sale, says the company is worth in excess of $2 trillion (more than double the size of Apple), though no one really knows because its profits are covered under in confidentiality. The Saudi Empire is planning a partial privatisation of Aramco to create a war chest and prepare the country for the post-hydrocarbon age.