The state-owned energy giant attributed the boost to higher crude volumes sold from maintaining consistent production, as well as higher prices of refined and chemical products.
Saudi Arabia’s state-owned oil company posted a 9 percent increase in third-quarter profit on Tuesday.
Saudi Aramco posted a 9% increase in third-quarter profit following a jump in earnings from its refineries and as the Iran war drove oil prices higher. The company’s oil selling price was about 35% higher in the quarter from a year earlier. Bloomberg's Mitchell Ferman reports. (Source: Bloomberg)
Soon after Houthi attacks forced Saudi Arabia to shutter its capital’s main airport, one consultant drove for hours to get to Riyadh from Oman. The executive left two weeks later and plans to return soon, this time via Doha, betting that showing up will offer an edge over rivals who’re staying away.
States like Saudi Arabia and the United Arab Emirates that have worked to rebalance from a dependence on energy have seen growth plunge in a year of strife.
The Saudi-led coalition said it destroyed several Houthi tunnels and missile launchers in Yemen, weakening the rebels’ ability to strike Saudi Arabia
Egypt’s parliament has voted to authorize President Abdel-Fattah el-Sissi to provide Saudi Arabia with military support in defending the kingdom against attacks by Iran-backed Houthi rebels
Violence aimed at civilian aviation has roiled a company that hoped to be a major lever in the kingdom’s long-term economic ambitions.
