Aramco sees at least 80 percent income increase | MENAFN.COM

Saturday, 02 July 2022 08:46 GMT

Aramco sees at least 80 percent income increase


(MENAFN) The net income of Saudi Arabia’s state-owned oil firm rose at least 82 percent in the first three months of this year, and set a new three-monthly incomes high since its first public offering 4 years ago, based on the firm's economic marks on Sunday.

Aramco also declared it increased USD39.5 billion in the first quarter, against USD21.7 billion in the first quarter of last year.

The oil firm attributed the good results to higher crude oil costs and volumes traded and better downstream limits.

The costs of international benchmark Brent crude climbed to USD139 a barrel in March, its peak level since 2008.

As said by Aramco’s CEO Amin Nasser “Against the backdrop of increased volatility in global markets, we remain focused on helping meet the world’s demand for energy that is reliable, affordable, and increasingly sustainable.”

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