Saudi Aramco’s first-quarter earnings surge 82%

Saudi Aramco reported earnings of $39.5 billion in the first quarter of 2022, up 82% from a year earlier, as global energy prices soared due to Russia’s war in Ukraine.

Saudi Aramco – last week beyond apple The world’s most valuable company — announced it would pay shareholders $18.8 billion in dividends, citing higher oil prices and improved downstream margins.

“Energy security is paramount, and we are making long-term investments to expand our oil and gas capacity to meet expected demand growth,” said Saudi Aramco CEO Amin Nasser.

The result was the energy company’s strongest performance since going public in 2019.

More to come. . .

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