In the modern times we live in, energy sources are needed more than ever to make the world go around. All the technological advances and basically our everyday lives revolve around it, and what bigger energy source is there than some good old black gold, Texas tea, or to put it plain - crude oil.
Therefore, it’s no wonder that oil companies are ranked among the world’s richest. But which one is the richest of them all?
To find the world’s biggest oil company, we would have to travel east, all to way to Saudi Arabia. Considering the amount of oil supplies found over there, we can’t say it’s surprising whatsoever really.
Founded back in 1933, Saudi Aramco has truly come a long way. In the latest Financial Times report, the company value was estimated at a whopping US$10 trillion, making it not only the biggest oil company, but the world’s biggest company in general. With largest proven crude oil reserves of 260 billion barrels, it is bound to keep running for a long time.
Officially known as Saudi Arabian Oil Company, Saudi Aramco currently employs over 56,000 workers, generating a dizzying revenue of about $1 billion per day. The company is also named as the owner of Ghawar Field, the biggest oil field in the world, as well as the Shaybah Field, also ranked in the very top.
Interestingly enough, the beginning of Saudi Aramco wasn’t all that successful, quite the opposite actually. It took as much as five years since its launch to strike gold and start generating profit in 1938. It’s been nowhere but up ever since, and it seems that this is a trend the company is planning to stick to in years to come.
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