Saudi Aramco Net Income Grew 30% In Q1 Year-on-Year
Mohammad Ali (@ChaudhryMAli88) Published May 04, 2021 | 01:41 PM
Saudi Arabia's state-owned oil company Saudi Aramco on Tuesday announced gaining $21.7 billion in net income in the first quarter of 2021, a 30 percent increase compared to the same period last year
MOSCOW (UrduPoint News / Sputnik - 04th May, 2021) Saudi Arabia's state-owned oil company Saudi Aramco on Tuesday announced gaining $21.7 billion in net income in the first quarter of 2021, a 30 percent increase compared to the same period last year.
"Aramco's net income was $21.7 billion for the first quarter, a 30% increase from $16.7 billion in Q1 2020, primarily driven by a stronger oil market and higher refining and chemicals margins, partly offset by lower production," the company said in a statement.
The company also declared a dividend of 18.8 billion for the first quarter, which will be paid in the second one.
"Aramco demonstrated reliable upstream performance with an average total hydrocarbon production of 11.5 million barrels per day of oil equivalent in the first quarter of 2021, including 8.6 million barrels per day of crude oil," the statement added.
In 2020, the COVID-19 pandemic led to a slowing of the global economy, limiting the need for energy resources.
Recent Stories
PTI to stage nationwide protests against alleged electoral frauds
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
More Stories From Business
-
Machinery equipment assembling grew by 70.98% in 08 months
21 minutes ago -
Gold rates up by Rs.2,500 per tola to Rs245,000
31 minutes ago -
Miner Anglo American rejects BHP's $38.8 billion takeover bid
1 hour ago -
Exchange rates for currency notes
3 hours ago -
Foreign exchange rates
4 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
4 hours ago
-
Today Gold Rate in Pakistan 26 April 2024
4 hours ago -
Chinese minister felicitates Ahsan Iqbal on reappointment as Planning minister
14 hours ago -
Pak-US officials engage to enhance trade, investment ties
14 hours ago -
Stocks fall as tech shares sink, US economy slows
15 hours ago -
Higher taxes, awareness help decrease cigarettes sale in Pakistan
16 hours ago -
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
16 hours ago