August 8, 2021
DUBAI (Reuters) – Saudi Arabian state oil producer Aramco on Sunday reported a nearly four-times rise in second-quarter net profit, boosted by higher oil prices and a recovery on oil demand.
Net income rose to 95.47 billion riyals ($25.46 billion) for the quarter to June 30 from 24.62 billion riyals a year earlier.
Analysts had expected a net profit of $23.2 billion, according to the mean estimate from five analysts.
($1 = 3.7501 riyals)
(Reporting by Hadeel Al Sayegh and Saeed Azhar; Editing by Raissa Kasolowsky)
Source: One America News Network
