Aramco records highest April-June net income on raised oil p...| MENAFN.COM

Tuesday, 04 October 2022 06:48 GMT

Aramco records highest April-June net income on raised oil prices


(MENAFN) Saudi Aramco, the world's biggest oil-producing firm, stated that April-June net income jumped over 90 percent on raised crude costs, capacities traded as well as higher refining margins.

Net income after zakat for the three-month span of time to the close of the quarter surged to USD48.4 billion, from nearly USD25.5bn in 2021 period, the national oil firm of Saudi Arabia stated on Sunday, in a regulatory filing to the Tadawul share exchange, where its stocks are exchanged.

The three-monthly earnings are a record for the firm since its opening public offering last year. Net revenue for the April-June period of this year jumped nearly 23 percent against the January-March of this year.

Aramco prepares to pay a second quarter shortage of USD18.8bn in the July-September. It paid the same amount in the quarter before.

Net income for the first six months of the year raised 86 percent to USD87.9bn from the same half of last year, because of higher crude oil costs, capacities traded and improved downstream margins.

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