Sunday, May 9, 2021
Home Business Oil giant Saudi Aramco beats estimates with 30% hike in first-quarter profit

Oil giant Saudi Aramco beats estimates with 30% hike in first-quarter profit

Oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and fuel firm, on the Abqaiq oil area.

Stanislav Krasilnikov | TASS through Getty Images

Oil giant Saudi Aramco reported a 30% leap in internet revenue Tuesday, in an indication of a continued restoration from the earlier 12 months’s oil market crash that noticed full-year earnings for the state agency slashed in half.

In a launch printed Tuesday, the corporate stated internet revenue rose to $21.7 billion in the primary three months of the 12 months.

The kingdom’s behemoth oil producer additionally stated a dividend of $18.8 billion can be paid out in the second quarter.

This is a breaking news story and will likely be up to date shortly.

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