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Saudi Aramco Q1 profit rises 30 percent on stronger oil market

Saudi Arabian state oil producer Aramco on Tuesday reported a 30 percent rise in first-quarter net profit boosted by a stronger oil market and higher refining and chemicals margins.

Net income rose to $21.7 billion for the quarter to March 31 from $16.7 billion a year earlier.

Analysts had expected a net profit of $19.48 billion, according to the mean estimate from five analysts.

Next articles

Saudi Crown Prince Mohammed bin Salman gives TV interview on Vision 2030 progress

Oman’s public revenues drop 31 percent in Q1 on COVID-19, lower oil price

Major Chinese investors in talks to take Aramco stake: Reuters

 

 

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