Aramco is the world’s largest oil company and most valuable worldwide as of May 11, 2022. Thanks to a surge in oil prices, Aramco’s share price hit new records in 2022. The company has lately increased its capital by $4 billion from its retained earnings. The Saudi government owns 94.2% of Aramco, and the company’s payment to the government hit $148.5 billion in 2021, up from $110 billion in 2020. In February 2022, Saudi Crown Prince Mohammed bin Salman said that 4% of the company’s shares had been transferred to the kingdom’s Public Investment Fund (PIF).