The largest shareholder of Aramco is the Government of Saudi Arabia.
Aramco, formally known as Saudi Arabian Oil Company, is predominantly owned by the Saudi Arabian state. This ownership structure reflects the strategic importance of the company to the Kingdom's economy and its role as a key player in the global energy market.
Aramco's Key Shareholders
The ownership of Aramco is highly concentrated, with the vast majority of shares held by entities directly or indirectly controlled by the Saudi Arabian government.
Here is a breakdown of the primary shareholders:
| Shareholder | Equities Held | Percentage of Ownership |
|---|---|---|
| Government of Saudi Arabia | 197,191,280,000 | 81.48 % |
| Public Investment Fund | 38,720,000,000 | 16.00 % |
| Fidelity Management & Research (Hong Kong) Ltd. | 6,195,110 | 0.002560 % |
| MFS International (UK) Ltd. | 6,093,265 | 0.002518 % |
Insights into Aramco's Ownership Structure
- Dominant State Control: The Government of Saudi Arabia holds the overwhelming majority of shares, ensuring direct control over Aramco's operations, strategic direction, and its contribution to national economic policies, including Vision 2030 initiatives focused on diversification and sustainable growth.
- Strategic Role of Public Investment Fund (PIF): The Public Investment Fund, Saudi Arabia's sovereign wealth fund, holds a significant 16% stake. This ownership provides the PIF with substantial capital for its investments in various sectors globally and domestically, supporting the Kingdom's economic transformation agenda. The PIF's stake reinforces the state's influence over Aramco while also facilitating a mechanism for re-investing oil revenues into future-oriented projects.
- Minimal Public Float and Institutional Holdings: Despite being a publicly listed company, only a tiny fraction of Aramco's shares are held by institutional investors and the broader public. The very small percentages held by firms like Fidelity Management & Research (Hong Kong) Ltd. and MFS International (UK) Ltd. indicate that Aramco primarily remains under tight state control, rather than being widely traded on public markets like many other major international oil companies.
This ownership model underscores Aramco's role as a national asset, integral to Saudi Arabia's long-term economic stability and development.
