RE:Stock Price Potential No, Aramco is not a fair comparison. They have 12 million bbl per day of production, a downstream division, and a chemical division. Reserves are worth the least in the portfolio.
For example, 1 bbl of production may be valued (net present value) at let's say $5. 1 bbl of reserves would then be valued at something like $0.50. These numbers are made up to prove a point, and only the reservoir/exploitation engineers would know the real numbers, but production barrels are worth a lot more than a reserve barrel. Now throw in downstream with their crack spreads, and chemical profit margins (all taking into account capital expenditures adjusted for discount rates).
You see how Aramco's production and other divisions greatly increase their market cap. If you have a background in oil and gas or finance focussing on oil and gas, you get this, otherwise, people are making wild assumptions that simply aren't true, to arrive at completely unrealistic valuations.