Saudi Aramco’s profit rose 82% in the first three months of the year as the energy giant earns high crude oil prices
Saudi Aramco’s profits rose 82 percent in the first three months of the year as the energy giant took advantage of rising oil prices.
The quarterly profit of the state-supported firm of 32.2 billion pounds became a record since the placement of shares in 2019, and profits significantly exceeded 17.7 billion pounds for the same period last year.
The company has announced dividends of £ 15.3 billion to be paid next quarter.
Promotion: Saudi Aramco is the last energy company after Shell and BP to report revenue growth in 2022
Saudi Aramco is the last energy company after Shell and BP to report revenue growth in 2022.
In the first three months of this year, BP’s profits more than doubled.
Saudi Aramco President and CEO Amin Nasser said the company was “expanding our capabilities to meet expected demand growth.”
He said: “Energy security is vital and we are investing in the long run.”
Last week, the company Nasser stripped the throne of Apple as the most valuable company in the world with an estimate of 1.98 trillion pounds.
Saudi Aramco’s results also showed that total production in the first quarter rose to 13 million barrels of oil equivalent per day.