The Saudi oil giant Aramco announced this Sunday a growth of 288% in its net profit in the second quarter of 2021, that is, about four times more than that registered in the same period last year.
The Saudi public company, the world’s leading oil exporter, said it made a net profit of $ 25.5 billion (about € 21.7 billion), compared to $ 6.6 billion (€ 5.6 billion) in the second quarter of 2020. ; an increase driven mainly by the rise in prices and demand.
In the first half of 2021, the net profit practically doubled compared to 2020, with 47.2 billion dollars (about 40.1 billion euros).
“Our results in the second quarter reflect a strong increase in global energy demand and we are heading towards a more resilient and flexible second half of 2021 as the global recovery accelerates,” stated Aramco CEO Amin Nasser, quoted in the statement in which the group gave an account of its figures.
Aramco also announced that it paid 18.8 billion euros of dividends to its shareholders in the second quarter, almost two years after going public in Riyadh in December 2019.
Faced with the covid-19 pandemic and the impact of the health crisis on demand and oil prices, the company’s net profit fell 44.4% in 2020, to $ 49 billion (€ 41 billion). ).
Last month, the Organization of the Petroleum Exporting Countries – led by Saudi Arabia – and its allies (OPEC +) decided to extend an agreement to limit oil production, with a slight increase expected from August, which the cartel and its allies launched to support prices.
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