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  • 31-10-21

    Saudi Aramco beats tech giants such as Google, Amazon

    (MENAFN)In the third quarter, Saudi Aramco is the world's most profitable company, hitting tech giants such as Google, Amazon and Apple, in addition to other listed energy companies such as ExxonMobil and Shell.

    Dhahran-based company declared that its net revenue in the mentioned period rose by 158 percent from a year ago to SR114 billion (USD30.4 billion), in comparison to USD11.8 billion a year ago, with an improvement in its sales by 80 percent to SR359 billion (USD96 billion), supported by the recent improvement in oil prices.

    “Our exceptional third quarter performance was a result of increased economic activity in key markets and a rebound in energy demand, as well as our unique low-cost position, our financial discipline and our proven ability to reliably deliver essential energy and chemical products to our customers," according to Aramco president and CEO Amin Nasser.

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