Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
Break up or get dissolved
access_time 4 Nov 2024 4:01 AM GMT
Through oneness to autocracy
access_time 2 Nov 2024 4:58 AM GMT
In football too racism rules the roost
access_time 1 Nov 2024 4:26 AM GMT
The concerns raised by the census
access_time 31 Oct 2024 7:49 AM GMT
exit_to_app
Homechevron_rightBusinesschevron_rightSaudi Aramco's Q1 net...

Saudi Aramco's Q1 net profit rises by 30%

text_fields
bookmark_border
Saudi Aramcos Q1 net profit rises by 30%
cancel

Riyadh: Saudi Arabia's oil giant Aramco said on Tuesday that its net profit increased by 30 per cent in the first quarter of 2021, due to higher oil prices and an improved economic environment amid the pandemic, as per an IANS report.

Its net income this quarter reached $21.7 billion compared to $16.7 billion in the same period last year, reports DPA news agency.

The company said it will distribute cash dividends totalling $18.8 billion, due in the second quarter.

"Given the positive signs for energy demand in 2021, there are more reasons to be optimistic that better days are coming. And while some headwinds still remain, we are well-positioned to meet the world's growing energy needs as economies start to recover," Aramco President and CEO Amin Nasser, said in a statement.

The results reflect a dramatic shift from last year due to the coronavirus pandemic and lower oil prices.

In 2020, Aramco said its net profit fell by nearly half of what it was in 2019.

Show Full Article
TAGS:AramcoSaudi Arabia Updates
Next Story