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  • 02-11-22

    Saudi oil giant Aramco records revenue rises by 39.4 percent in Q3

    (MENAFN) The net revenue of Saudi Arabia’s state-backed oil firm Aramco surged by nearly 39.4 percent throughout the July-September period of this year, as shown by the firm’s economic outcomes on Tuesday.

    Aramco registered a revenue of nearly USD30.4 billion in the stated period of the year, versus almost USD42.4 billion in the same three months of last year.

    The announcement mentioned that the revenue was the outcome of the 'ability to produce important value via its low-cost upstream output and tactically integrated downstream business.'

    The firm also surged its nine-month revenue by over 67 percent to USD130.3 billion.

    Its income for the July –September period of this year was nearly USD95.7 billion, increasing by over USD49.2 billion in comparison to its income for the same period of last year.

    “Against the backdrop of global underinvestment in our sector, we are extending our long-term oil and gas production capabilities while also working towards our previously stated ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions from our wholly-owned operated assets,” company chief executive Amin Nasser was recited as stating in the announcement.

    MENAFN02112022000045014228ID1105117422

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