-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Original source: Economic Information Daily
According to the Associated Press, on May 4 local time, the performance report released by Saudi Arabia’s National Petroleum Corporation (Saudi Aramco) showed that the company’s net profit in the first quarter was driven by the strengthening of the oil market and the rising profit margins of refining and chemical products.
According to the financial report, Aramco’s sales in the first quarter increased by more than 20% year-on-year to US$72.
Amin Nasser, CEO of Saudi Aramco, said: "Although there are still some unfavorable factors, as the economy begins to recover, the company is already in a good position to meet the growing global energy demand.
Saudi Aramco said that the increase in profits mainly reflects the impact of rising crude oil prices.
After going public in December 2019, the market value of Saudi Aramco once reached US$2 trillion, making it recognized as the world's largest oil company.
The analysis pointed out that the Saudi government continues to rely heavily on Saudi Aramco’s oil revenue, so Saudi Aramco’s high profits will benefit the increase in government spending.
