Aramco shoots profit by 90% in the second quarter, to a record of 47,158 million

MADRID, 15 Ago. (EUROPA PRESS) -

Saudi Aramco, the world's largest oil company, recorded an attributed net profit of 48.4 billion dollars (47.158 million euros) in the second quarter of 2022, which represents a new quarterly record and almost double the earnings of the Saudi state oil company between April and June of the previous year thanks to the sharp rise in crude oil prices due to the war in Ukraine and the greater demand after the pandemic.

In this way, in the first six months of the year Aramco achieved a record profit of 87,900 million dollars (85,644 million euros), 86.2% more than the earnings of 47,200 million dollars (45,988 million euros) in the first half of 2021.

"The increase in both periods was mainly due to higher crude prices and volumes sold, as well as strong refining margins during the second quarter and higher downstream margins in the first half of 2022," the company explained.

The Saudi oil company also announced that it will distribute in the third quarter of the year 18,800 million dollars (18,317 million euros) in dividends corresponding to the second quarter, thus keeping the amount distributed quarterly among its shareholders stable.

Aramco Chairman and CEO Amin H. Nasser noted that the record second quarter results reflect growing demand for the company's products, particularly as a low-cost producer with one of the lowest carbon intensities in the industry. .

"While global market volatility and economic uncertainty remain, events during the first half of this year support our view that continued investment in our industry is essential, both to help ensure markets remain well supplied and to facilitate an orderly energy transition," he added.

In this sense, the top executive of Aramco expressed the confidence of the oil company that the demand for crude oil will continue to grow during the rest of the decade, despite the downward economic pressures on world forecasts in the short term.