Markets Mohammed bin Salman oil saudi arabia saudi aramco

Saudi Aramco Made 3 Times More Money In 9 Months Than Exxon Made All Of Last Year

Shares will begin trading on the Tadawul December 11.

If you were worried about Saudi Aramco six weeks on from the historic attacks that crippled 50% of Mohammed Bin Salman's oil production, don't be. Although the breakdown is impossible to discern from the sparse reporting, the market learned on Tuesday that the world's most profitable company raked in an astonishing $68 billion in profits during the first nine months of the year. That means it's still the world's most profitable company. In 2018, Aramco had more net income than Apple, Google and Exxon combined. You can make all manner of amusing comparisons using the nine-month figure reported by Bloomberg (citing people familiar with the figures) on Tuesday. For example, Aramco made three times more money in the first nine months of this year than Exxon made in all of 2018. Or, Aramco's nine-month income exceeded Apple's full-year 2018 net income. The new numbers were given to analysts working on the behemoth's long-delayed IPO which has been the subject of near daily rumors since the attacks last month. On Tuesday, Al Arabiya cited sources in reporting that shares will begin trading in Saudi Arabia on December 11. To wit: Saudi Aramco will list on the Saudi Stock Exchange
Subscribe or log in to read the rest of this content.

0 comments on “Saudi Aramco Made 3 Times More Money In 9 Months Than Exxon Made All Of Last Year

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.