The financial statements of the Saudi Arabian Oil Company (Saudi Aramco) showed an increase in the company's profits in the first quarter of this year by 81.8% year on year.
According to the company's results for the Saudi market (Tadawul), today, Sunday, the profits for the period amounted to 148.03 billion riyals, compared to the profits of the first quarter of last year of 81.44 billion riyals.< /p>
The company said in a statement to the stock exchange that the increase in profits during the comparison periods is mainly due to the increase in crude oil prices and quantities sold and the improvement in the profit margins of the refining, processing and marketing sector.
The company's revenues in the first quarter of this year amounted to 467 billion riyals, compared to 272.07 billion riyals for the same period in 2021, an increase of 71.7%.
