Dubai, United Arab EmiratesThe world’s largest oil company, Saudi Aramco, reported on Sunday $30.4 billion in third-quarter net income, buoyed by oil prices and improving demand as the coronavirus pandemic eases.
Saudi Arabia’s majority state-owned oil company Aramco said its net income rose 158% from $11.8 billion during the same three-month period a year ago.
The results have come in the form of an easing of virus-induced restrictions, tightening of gas supplies and an acceleration of vaccination campaigns globally, leading to a sharp rise in crude oil prices. international benchmark price Brent Crude was trading above $83 per barrel on Sunday.
Net income refers to the amount left over after paying taxes and preferred dividends.
Saudi Arabia’s majority state-owned oil company Aramco said its net income rose 158% from $11.8 billion during the same three-month period a year ago.
The results have come in the form of an easing of virus-induced restrictions, tightening of gas supplies and an acceleration of vaccination campaigns globally, leading to a sharp rise in crude oil prices. international benchmark price Brent Crude was trading above $83 per barrel on Sunday.
Net income refers to the amount left over after paying taxes and preferred dividends.
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