{"id":3825,"date":"2023-02-22T14:52:04","date_gmt":"2023-02-22T14:52:04","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=3825"},"modified":"2023-02-22T14:52:06","modified_gmt":"2023-02-22T14:52:06","slug":"saudi-arabias-oil-company-slips-to-worlds-3rd-largest-company","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/3825\/","title":{"rendered":"Saudi Arabia\u2019s Oil Company Slips To World\u2019s 3rd Largest Company"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>Saudi Arabia&#8217;s state-run oil giant, Saudi Arabia, is now the world&#8217;s third-largest company by market capitalization, according to the companiesmarketcap.com list.<\/p>\n\n\n\n<p>Aramco, with a market cap of $1.903 trillion, slid to the number three position behind Apple ($2.413T) and Microsoft ($1.920T).<\/p>\n\n\n\n<p>Just two months ago, in mid-December, Aramco held the Number two position with a market cap of $1.81T, behind only Apple. And before that, In May of last year, Aramco was sitting at the top of the list with a $2.38 trillion market cap.<\/p>\n\n\n\n<p>Al Rajhi Capital said in a January report that Aramco&#8217;s net profit in Q4 2022 was expected to decline 6.3% from the previous quarter, to $38.90 billion due to a weak demand outlook stemming from a global economic slowdown.<\/p>\n\n\n\n<p>But while Aramco&#8217;s market cap has been slipping, the company is anticipating China&#8217;s reopening to trigger a pick up in jet fuel demand and crude oil demand, CEO Amin Nasser said in a Bloomberg interview last month. &#8220;We are very optimistic in terms of demand coming back to the market,&#8221; Nasser said at the time.<\/p>\n\n\n\n<p>Aramco isn&#8217;t the only one sharing a rosy outlook for global oil demand, with OPEC remaining &#8220;cautiously optimistic&#8221;.<\/p>\n\n\n\n<p>Aramco&#8217;s Nasser lashed out last week against the ESG trends that were hampering investments into the oil and gas sector.<\/p>\n\n\n\n<p>&#8220;As far as the future of capital markets is concerned, ESG is clearly a rising trend. And in my view, an increased emphasis on ESG is a move in the right direction,&#8221; Nasser said last week, adding that if ESG-driven policies are implemented with a bias toward fossil fuel projects, the underinvestments would have serious ramifications with regard to energy security and affordability.<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2023-02-22T14:52:06+00:00\"> 22 February 2023<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"Saudi Arabia&#8217;s state-run oil giant, Saudi Arabia, is now the world&#8217;s third-largest company by market capitalization, according to the companiesmarketcap.com list. Aramco, with a market cap of $1.903 trillion, slid to the number three position behind Apple ($2.413T) and Microsoft ($1.920T). Just two months ago, in mid-December, Aramco held the Number two position with a [&hellip;]","protected":false},"author":1,"featured_media":3826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,36,19,16],"tags":[],"services":[],"class_list":["post-3825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lastnews","category-news","category-oil"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/3825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=3825"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/3825\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/3826"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=3825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=3825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=3825"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=3825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}