Aramco announces a 30% rise in profits in the first quarter … and is providing good news to shareholders

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Al-Marsad Newspaper: “Saudi Aramco” revealed a 30% rise in profits for the first quarter of this year, to 81.4 billion riyals, as Aramco’s quarterly sales amounted to 272 billion riyals.

The company said in a statement on the Saudi market website “Tadawul” today, Tuesday, that the increase in net income for the first quarter of 2021 to reach 81.44 billion Saudi riyals (21.72 billion dollars), compared with 62.48 billion Saudi riyals (16.66 billion dollars) for the same period. From 2020, due primarily to higher crude oil prices, improved refining, processing and marketing profit margins, and consolidation of SABIC business results, partly offset by lower crude oil sales.

Aramco also announced a cash dividend of 70.33 billion Saudi riyals ($ 18.76 billion) to shareholders for the first quarter.





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