Saudi Aramco posts record profit in second quarter of 2022
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The net profit of the world’s largest oil producer Saudi Aramco in the first half of 2022 grew by 86% year-on-year to a record $87.9 billion. report The company says that the main factors behind the growth of indicators were high energy prices and increased demand.
In the second quarter of this year, the company’s net profit amounted to $48.4 billion. The company also announced the payment of dividends in the third quarter in the amount of $18.8 billion.
Aramco posted record quarterly and half-year net income of $48.4 billion for the second quarter and $87.9 billion for the first half, compared with $25.5 billion and $47.2 billion, respectively, in the same periods in 2021. companies.
Saudi Arabia raised the price of oil supplies to all regions of the world in May 2022, Bloomberg reported. National oil company Saudi Aramco raised the price of Arab Light crude for Asian buyers by $9.35 a barrel in May. It is noted that this is $4.40 more than in April.
In May, Saudi Aramco also overtook the US Apple in terms of market capitalization and again became the most valuable company in the world. Apple has been number one in the world by capitalization for nearly two years since 2020, reaching over $3 trillion in early 2022. However, by May 11, the valuation had fallen by 19%, while the capitalization of Saudi Aramco had grown by 27%.
In early February, The Wall Street Journal reported that Saudi Aramco planned a secondary public offering of its shares for a total of $50 billion, which at that time was approximately 2.5% of the company’s total share capital.
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