Saudi Aramco announces an 82% increase in profits, thanks to the rise in oil prices

Riyadh - (AFP) - Saudi Aramco announced Sunday that it achieved an 82% increase in its profits in the first quarter of 2022, compared to the same period last year, thanks to the rise in oil prices, which made it the most expensive company in the world in market value.

The company said in a statement that it achieved “quarterly net income, an increase of 82 percent, from 81.4 billion riyals ($ 21.7 billion) in the first quarter of 2021 to 148.0 billion riyals ($ 39.5 billion) in the first quarter.” first of this year," noting that "the rise was primarily driven by higher crude oil prices and sales volumes, and improved refining, processing and marketing profit margins."