Saudi Oil Company Aramco Reports Record Results

Saudi Oil Company Aramco Reports Record Results

The price explosion on the energy markets has also given the Saudi Arabian oil giant Aramco another record result.

In the second quarter of this year, a profit of 48.4 billion dollars was generated, the partially state-owned company announced today. It benefited from the rise in oil prices as a result of the Russian war of aggression in Ukraine and the significant increase in demand.
Aramco is considered the largest oil producing company in the world. According to the figures that have now been published, net profit jumped by 90 percent in the second quarter of this year compared to the same period last year. In the first quarter of 2022, profit was $39.5 billion.
The group assumes that the demand for oil will continue to rise throughout the decade, despite the gloomier short-term prospects for the global economy, said Aramco boss Amin Nasser.

Saudi Oil Company Aramco Reports Record Results

Emissions from fossil fuels are the main cause of man-made global warming. According to a study by the Climate Accountability Institute, the 20 largest oil and gas companies are jointly responsible for around a third of global CO2 emissions.

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