Aramco, the Saudi national oil company, has been named the world’s most valuable company. Aramco’s market capitalization rose to $ 2.464 trillion on rising stock prices. Aramco topped the list in terms of market value behind Apple.
Saudi Aramco, the world’s largest oil exporter, has become the world’s most valuable oil company. Aramco has overtaken iPhone maker Apple. The company had a market capitalization of $ 2.464 trillion on Tuesday. At the same time, Apple had a market value of $ 2.461 trillion. US company Microsoft is third with a market value of $ 1.979 trillion. Shares of Aramco have risen regarding 30 percent so far this year. Rising oil prices in the wake of Russia’s war in Ukraine have been a major factor in Aramco’s rising market value. Aramco’s financial report for the first quarter of 2022 will be announced on Sunday. The financial world expects the company to make record profits.