Oil giant Saudi Aramco's profits soar 82% in the first quarter as the state-backed company cashes in on the soaring oil prices following Russia’s offensive in Ukraine
Sadu Aramco reported a net income of $39.5 billion for the quarter to March 31 from $21.7 billion a year earlier.
The announcement on Sunday continued a string of recent positive economic news for Saudi Arabia, where a booming oil sector is fuelling the fastest growth rate in a decade. The latest financial results were published four days after Aramco dethroned Apple as the world's most valuable company, with shares worth $2.42 trillion compared to Apple’s $2.37 trillion.But the company, the kingdom's "crown jewel" and a key source of government revenue, faces security challenges related to an ongoing war by a Saudi-led military coalition against Yemen's Huthi rebels, who have repeatedly targeted the kingdom, including Aramco sites.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Saudi Aramco Posts Record Quarterly Profit on Surging Oil PricesSaudi Aramco posted a record quarterly profit as the world’s most valuable company benefits from surging oil prices following Russia’s invasion of Ukraine
Baca lebih lajut »
Saudi Aramco Posts Record Quarterly Profit on Surging Oil PricesSaudi Aramco posted a record quarterly profit as the world’s most valuable company benefits from surging oil prices following Russia’s invasion of Ukraine
Baca lebih lajut »
Oil prices are surging — these eight stocks are still bargains for long-term investorsEven though the energy sector of the S&P 500 is the only one to rise this year, investors seem still to be at an early stage of a lucrative multi-year cycle.
Baca lebih lajut »
Emirates Airline, Stung by Soaring Fuel Prices, Posts $1.1 Billion Dollar LossThe airline has resumed flights to 140 destinations, but the surge in fuel prices continues to challenge the pandemic-battered aviation sector.
Baca lebih lajut »
India bans wheat exports as heatwave hurts crop, domestic prices soarIndia banned wheat exports on Saturday, just days after saying it was targeting record shipments this year, as a scorching heatwave curtailed output and domestic prices soared to an all-time high.
Baca lebih lajut »