Top Saudi oil firm sees 90% surge in net profits for second quarter of 2022
- Date: 14-Aug-2022
- Source: The Economist
- Sector:Oil & Gas
- Country:Saudi Arabia
Top Saudi oil firm sees 90% surge in net profits for second quarter of 2022
Saudi oil giant Aramco has revealed profits of $48.4bn (£40bn) for the second quarter of 2022 - a 90% year-on-year increase.
The sum has broken the firm's quarterly profit record set in May, with soaring energy prices driven by Vladimir Putin's invasion of Ukraine resulting in windfalls to oil producers.
The $48.4bn figure is higher than all of the first six months of last year, when profits reached $47bn (£39bn).
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