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Saudi oil company Aramco earned 38 billion euros in the first quarter of the year.

Latest NewsSaudi oil company Aramco earned 38 billion euros in the first quarter of the year.

Saudi state oil company Aramco earned $39.5 billion (nearly €38 billion) in the first quarter of the year, up 82% from the same period in 2021, its best performance since the company went public in 2019 . crude oil prices.

The oil company notes in a statement that its net income nearly doubles from $21.7bn (€20.8bn) in the first quarter of 2021, driven mainly by “higher crude oil prices and sales volumes, and also higher margins in refining (refining) and marketing). Aramco says it will pay a $18,800 million (€18,056 million) dividend in the second quarter.

The world’s largest oil company also reports that its free cash flow increased 68% year on year from $38,200 million (€36,690 million) this quarter, compared to $26,500 million (€25,452 million) in the first three months of 2021.

High oil prices also led to a sharp increase in the oil company’s profits in 2021, up 124% from the previous year, during the global crisis caused by the COVID-19 pandemic.

He thoroughly knows all sides of the coin.

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Source: elpais.com

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