Al-Marsad newspaper – SPA: The profits of the Saudi Arabian Oil Company “Saudi Aramco” in the second quarter of 2022 increased by about 90%, to 181.6 billion riyals, compared to 95.47 billion riyals in the second quarter of 2021.
On a quarterly basis, Aramco’s profits rose 22.7%, from 148 billion riyals in the previous quarter.
Aramco’s profits in the second quarter were better than the average expectations of analysts, and the value of sales achieved by the company in the second quarter amounted to 562 billion riyals.
During the first half of 2022, Aramco achieved profits of 329.67 billion riyals, compared to 176.9 billion riyals, a growth of 86.35%.
The company said that the increase in profits for the second quarter is primarily due to the increase in crude oil prices and quantities sold, and the increase in profit margins for the refining business.