• Saudi Aramco cashes in on rising oil prices as profit jumps 80 percent

    11 days ago - By NY Times

    The national oil company of Saudi Arabia said quarterly income reached nearly $40 billion, reflecting volatile energy markets.
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  • Saudi oil giant Aramco's first-quarter profits surge 80%

    11 days ago - By Chron

    DUBAI, United Arab Emirates - Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and soaring oil prices following Russia's invasion of Ukraine.
    The bumper first-quarter earnings by the firm formally known as the Saudi Arabian Oil Co. show a record net income of $39.5 billion, up from $21.7 billion during the same period last year.
    Already, resurgent economic activity and the relaxation of global coronavirus restrictions had revived demand for hydrocarbons...
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