<P> Foreigners are allowed to wholly own limited liability companies in the majority of industries . Non-Saudi nationals are required to obtain a foreign capital investment license from the Saudi Arabian General Investment Authority (SAGIA). </P> <P> Saudi Aramco (officially the Saudi Arabian Oil Co .), is a Saudi Arabian national petroleum and natural gas company based in Dhahran, Saudi Arabia . Saudi Aramco's value has been estimated at up to US $10 trillion in the Financial Times, making it the world's most valuable company . (ARAMCO is state - owned and unlisted .) </P> <P> Saudi Aramco has both the largest proven crude oil reserves, which it claims to be more than 260 billion barrels (4.1 × 10 m), and largest daily oil production . Headquartered in Dhahran, Saudi Arabia, Saudi Aramco operates the world's largest single hydrocarbon network, the Master Gas System . Its yearly production is 3.479 billion barrels (553,100,000 m), and it managed over 100 oil and gas fields in Saudi Arabia, including 284.8 trillion standard cubic feet (scf) of natural gas reserves . Saudi Aramco owns the Ghawar Field, the world's largest oil field, and the Shaybah Field, another one of the world's largest oil fields . </P> <P> The Saudi Arabian Basic Industries Corporation SABIC was established by a royal decree in 1976 to produce chemicals, polymers, and fertilizers . In 2008, SABIC was Asia's largest (in terms of market capitalization) and most profitable publicly listed non-oil company, the world's fourth - largest petrochemical company, ranked 186th as world's largest corporation on the Fortune Global 500 for 2009, the second largest producer of ethylene glycol and methanol in the world, the third largest producer of polyethylene and overall the fourth - largest producer of polypropylene and polyolefin . Standard & Poor's and Fitch Ratings claimed SABIC to be the world's largest producer of polymers and the Persian gulf region's largest steel producer for 2005 and assigned SABIC an "A" corporate credit rating . In 2008, Fortune 500 ranking records SABIC revenues at $40.2 billion, profits at $5.8 billion and assets standing at $72.4 billion . </P>

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