Saudi Aramco tops Middle East companies for 2023: Forbes

Al-Monitor Staff

Jun 13, 2023

A picture taken on September 15, 2019 shows the entrance of an Aramco oil facility near al-Khurj area, just south of the Saudi capital Riyadh. - Saudi Arabia raced today to restart operations at oil plants hit by drone attacks which slashed its production by half, as Iran dismissed US claims it was behind the assault. The Tehran-backed Huthi rebels in neighbouring Yemen, where a Saudi-led coalition is bogged down in a five-year war, have claimed thi weekend's strikes on two plants owned by state giant Aramc — A picture taken on September 15, 2019 shows the entrance of an Aramco oil facility near al-Khurj area, just south of the Saudi capital Riyadh. — FAYEZ NURELDINE/AFP via Getty Images

Saudi state-owned oil giant Aramco ranked highest on Forbes top 100 Middle East companies for 2023. The list released on Tuesday, reinforced the Gulf status as the center of economic gravity for the region particularly its energy and financial sectors.

In its list, the US-based business news outlet used criteria sales figures, revenue and market value as main criteria. The companies on the list are from the Middle East and North Africa and are all listed on a stock exchange. The following is a breakdown of Forbes' top 10 companies in the region:

Aramco

Aramco again took the top spot, with Forbes noting its $604.4 billion revenue in 2022 and market value of $2.1 trillion.