the oil group Saudi Aramco announced this Sunday a year-on-year growth of 82% of its net profit in the first quarter, driven by the increase in crude oil prices.
Its net profit reached 39.5 billion dollars, compared to 21.7 billion dollars in the same period of 2021, “mainly thanks to the rise in crude oil prices and volumes sold, and to the improvement of” refining and distribution, he indicated. Saudi Aramco it’s a statement.
The result is a record since the world’s largest oil exporter went public in 2019.
The increase in its profits is framed in the wake of several favorable announcements for Saudi Arabiawhose oil sector is booming.
The Saudi Ministry of Finance announced that it registered a quarterly growth of 36% compared to the same period of the previous year, which led to a budget surplus of more than 15,000 million dollars (about 14,400 million euros), local media reported.
The latest financial results of aramco were published four days after the company dethroned the American Manzana as the world’s best-traded company, reaching $2.43 billion in value on Wednesday, overtaking the maker of iPhones, which fell to $2.37 billion.