Aramco, no? It has not just a government-appointed management, it is actually managed by the royal family of the KSA with all their whimsies and fancies like gold cars and pans
Ok then its neither government nor corporate, it's royal property then, because it belongs to that kingdom?
In my imagination, i would consider government enterprise as something controlled by either a local government council (transportation,subways,etc) or a national company (dams, power plants, government oil company)
And needless to say that all of them are innefficient, because they are heavily influenced by politics and every politicians own interest.
If the owner = government = 1 person, then it might be a different thing and it has more in common with aristocracy than capitalism.