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Saudi Aramco is The Most Valuable Company In The World

by M.Munir 1 comment

Saudi Arabian oil and gas company Saudi Aramco will again become the most valuable company in the world in 2022. This condition is inseparable from the decline in technology company shares due to selling by investors. 









Tahbrontak - As reported, Saudi Aramco is the most valuable company in the world with a valuation of US $2.42 trillion or around IDR 35,266.6 trillion. Previously, Saudi Aramco's valuation has been lost to technology company Apple Inc. in the last two years. 

But due to a 5 percent decline in Apple's stock, the company's valuation is now only US$2.37 trillion. In addition to the ongoing weakening in the technology sector, Saudi Aramco also benefited from the soaring prices of various commodities due to sanctions received by Russia for invading Ukraine.


For the third quarter of this year, Saudi Aramco will not change its $18.8 billion dividend. The additional profits will be used to develop Saudi Aramco's business. Due to global market volatility and economic uncertainty, the results obtained in the first half of this year, strengthens the desire to invest to keep global market needs met as the energy transition progresses, said Saudi Aramco president and CEO Amin Nasser.


Like Saudi Aramco, global oil companies such as ExxonMobil, Chevron, and BP have also managed to record significant additions to profits this year.

Saudi Arabian oil company Saudi Aramco on Thursday (17/11/2022) announced plans to invest US$7 billion, or around Rp109.7 trillion, to develop a petrochemical plant in Ulsan, South Korea.


As reported by Reuters, the project, named Shaheen, will be Saudi Aramco's largest investment in Asia and will produce the largest petrochemical plant in the world. Saudi Aramco owns 63 percent of South Korean oil company S-Oil. 


Development of the new factory will begin in 2023 and is projected to be completed in 2026. The factory will have a production capacity of 3.2 million tons per year and be equipped with facilities to produce high-value polymers. According to Amin Nasser, CEO of Saudi Aramco, the development of the petrochemical plant is in anticipation of increasing consumption in Asian countries.

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