Saudi Aramco, the company with LNG plans and behind the global energy turmoil because of the Saudi government pledge to increase crude oil production, still has its shares trading at a high level of 30.90 riyals ($8.24) on the Saudi Tadawul stock exchange.
The shares of Saudi Aramco have dropped just 8.2 percent since March 5 when they were at 33.15 riyals, while energy majors around the world have suffered double-digit drops.
The Saudi Aramco shares have also lost just 12 percent of their value since they traded at 35.20 Saudi riyals ($9.40) on the first day after an initial public offering of 1.5 percent of the company's shares.
That first day’s share trading after the IPO brought Saudi Aramco's value up to $1.88 trillion, but it has only briefly gone over the $2 trillion market value in 2020.
The value of Aramco is more than the top five energy majors who are also prominent LNG producers, ExxonMobil, Royal Dutch Shell, Chevron, Total and BP.
ExxonMobil shares dropped from $50 per share on March 5 after the Saudis announced a price war with plans to sell much more oil. ExxonMobil shares alter edged higher to $43.41 per share, valuing the largest US energy major at $183 billion.
BP of the UK saw its shares also recover on March 11 to 333.60 pence from 420 pence on March 5 before the global plunge. Anglo-Dutch company Royal Dutch Shell has UK and European shares and the Euronext value was 15.71 euros, still well down on the March 5 price of 19.67 euros.
Saudi Aramco is pursuing plans to be a supplier and trader of LNG and with its first customer expected to be Bangladesh.
It has recently issued an expression of interest to charter up to 12 LNG carriers from 2025, through its shipping subsidiary, Bahri.
Sempra Energy, the California-based utility and LNG developer, has also signed an accord for a Saudi Aramco subsidiary to take a stake in the proposed Port Arthur LNG project in Texas. Sempra shares were last at $130.60, down from $141.76 on March 5.