Saudi Aramco is not owned by the United States in any capacity; it is the state-owned national petroleum and natural gas company of the Kingdom of Saudi Arabia. Headquartered in Dhahran, the vast majority of the corporate entity is directly held by the Saudi government and its sovereign wealth fund, the Public Investment Fund. While a small fraction of its shares was floated on the Saudi Tadawul exchange during its historic initial public offering, the enterprise remains firmly under national Saudi ownership and sovereign control.