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Saudi Aramco hits $2.2 trillion market cap on record-high share prices

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23 Feb 2022 12:02:20 GMT9
23 Feb 2022 12:02:20 GMT9

Arab News

RIYADH: Saudi Aramco hit a record $2.2 trillion in market value on Wednesday with its shares soaring to their highest level since listing.

Shares rose over 3 percent to SR40.5 ($10.8) amid trading of over 27 million shares on the Saudi stock exchange.

The oil giant is reviewing some assets to potentially sell in the future, CEO, Amin Nasser, earlier told Argaam.

The move comes after oil and gas pipeline deals were previously announced as part of the asset optimization program, Nasser added on the sidelines of the International Petroleum Technology Conference 2022.

Most recently, Iraq said it plans to collaborate with Aramco to develop oil and gas in the Western Desert, Bloomberg reported.

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