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The Guardian - UK

Business

Sarah Butler

Saudi oil giant Aramco reports 82% rise in quarterly profits

Oil Aramco British Petroleum Saudi Aramco Shell

The refinery seen from the water — Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia. Photograph: Ahmed Jadallah/Reuters

Saudi Aramco, the world’s biggest oil company, has disclosed an 82% rise in quarterly profits to a new record of $39.5bn (£32.2bn), boosted by an increase in demand and higher crude prices.

The company, which last week overtook technology group Apple to become the world’s most valuable company, said it would pay an $18.8bn (£15.3bn) dividend and hand $4bn (£3.2bn) in bonus shares to its investors after the better-than-expected performance.

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