Economy and Stock Exchange

Saudi Aramco announces an 81.7% increase in profits in the first quarter of this year

Saudi Aramco announced today, Sunday, a quarterly profit increase of 81.7% in the first quarter of this year to 148 billion riyals.

The (Saudi News) channel stated that the company’s profits achieved a quarterly growth of 21.9%, as it was 121.4 billion riyals in the previous quarter, and the value of operating profits achieved by Aramco in the first quarter of this year amounted to about 277.7 billion riyals, compared to 151.9 billion riyals. riyals in the first quarter of last year, an increase of 82.8%.

The company said – in a statement – that it “achieved a quarterly net income, an increase of 82 percent from 81.4 billion riyals ($21.7 billion) in the first quarter of 2021 to 148.0 billion riyals ($39.5 billion). in the first quarter of this year.”

She pointed out that “the rise was primarily driven by the rise in crude oil prices and sales volumes, and the improvement in the profit margins of the refining, processing and marketing business.”

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