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Saudi Aramco earnings surge 82 per cent in first quarter

Saudi Aramco has reported $39.5bn in earnings within the first quarter of 2022, up 82 per cent yr on yr because of the surge in world vitality costs as a consequence of Russia’s conflict in Ukraine.

Aramco — which final week overtook Apple because the world’s Most worthy firm — declared that it will pay shareholders an $18.8bn dividend, citing elevated oil costs and improved downstream margins.

“Power safety is important and we’re investing for the long run, increasing our oil and gasoline manufacturing capability to satisfy anticipated demand development,” mentioned Aramco chief government Amin Nasser.

The outcomes had been the vitality firm’s strongest because it floated in 2019.

Extra to return . . .

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