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Tags: Earns | Saudi | Aramco

Saudi Aramco Sees Third-quarter Income Rise to $30.4 Billion

Sunday, 31 October 2021 02:00 AM EDT

DUBAI, United Arab Emirates (AP) — The world’s largest oil company, Saudi Aramco, reported $30.4 billion in net income in the third quarter Sunday, bolstered by a surge in oil prices and recovery in demand as the coronavirus pandemic eases.

Saudi Arabia’s majority state-owned oil giant Aramco said its net income rose by 158% from $11.8 billion during the same three-month period a year earlier.

The results came as the global loosening of virus-induced restrictions, tightening of gas supplies and acceleration of vaccination campaigns have pushed prices of crude sharply higher. The price of international benchmark Brent crude was trading over $83 a barrel on Sunday.

Net income refers to the amount left after taxes and preferred dividends have been paid.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
The world's largest oil company, Saudi Aramco, reported $30.4 billion in net income in the third quarter Sunday, bolstered by a surge in oil prices and recovery in demand as the coronavirus pandemic eases. Saudi Arabia's majority state-owned oil giant Aramco said its net...
Earns,Saudi,Aramco
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2021-00-31
Sunday, 31 October 2021 02:00 AM
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