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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Saudi Aramco's First-quarter Profits Surge 80%

A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo

Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year.

The state-backed company’s first-quarter earnings show a record net income of $39.5 billion, up from $21.7 billion during the same period last year.

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