KYIV. UkraineGate . 15 . August .2022 l World News.
Saudi Arabia’s national oil company Aramco earned a record $48.4 billion in the second quarter of this year.
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Compared to the same period last year, the Saudi company’s net profit increased by 90%. This is the highest growth rate in the three years that have passed since the first listing of Aramco shares on the stock exchanges.
According to Bloomberg, this could be “the highest adjusted quarterly earnings of any publicly traded company.” Last quarter, Aramco earned more than any of the companies whose shares are traded on global exchanges.
The reason for such high profits of the Saudis is the sharp rise in oil prices that soared after the Russian invasion of Ukraine, so that many oil and gas companies report on record profits these days.
In early August, UN Secretary-General António Guterres even criticized them for it.
Saudi Aramco management has already said it will not review the amount of dividends earmarked for payments to shareholders in the third quarter totaling $18.8 billion. The company’s management also said Aramco will continue to expand and increase oil production to meet growing demand.
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“The volatility of global markets and the level of uncertainty remain high, but the events of the first half of the year confirm our view – investments in our industry are extremely important to meet the needs of the market today – and for an orderly transition to new energy sources,” said the head of the company Amin Nasser.
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The world’s largest exporter, Saudi Aramco, said it was ready to increase production to a maximum capacity of 12 million barrels per day.
Source: Ukrgate