Saudi oil company Aramco’s half-year profits peaked just shy of $88 billion as oil prices remain high globally.
FILE - Saudi Aramco engineers and journalists look at the Hawiyah Natural Gas Liquids Recovery Plant in Hawiyah, in the Eastern Province of Saudi Arabia on June 28, 2021. Saudi oil company Aramcos half-year profits peaked just shy of $88 billion for the first half of the year as oil prices remain high globally. The oil and gas company, which is nearly entirely state-owned, said Sunday, Aug.
The company credited the jump to higher crude oil prices and volumes sold, as well as higher refining margins. Saudi Arabia's vast oil reserves are among the cheapest to produce in the world.
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