Saudi Aramco’s Q1 profits up 30% on higher oil prices


Saudi Aramco’s higher net profits are primarily driven by a stronger oil market and higher refining and chemicals margins, partly offset by lower production. – EPA pic, May 4, 2021.

ENERGY giant Saudi Aramco said today its first quarter profits jumped 30% compared with the same period last year on the back of higher oil prices.

“Aramco’s net income was US$21.7 billion (RM89.4 billion) for the first quarter, a 30% increase from US$16.7 billion in Q1 2020, primarily driven by a stronger oil market and higher refining and chemicals margins, partly offset by lower production,” the company said in a statement.


Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one (1) week free access!

Subscribe Now!


Sign up or sign in here to comment.


Comments