Saudi Arabia’s state oil company hit £26.9bn profit – a 26% rise – in the first three months of the year
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Saudi Arabia’s state oil company reported a 26% jump in profit in its first quarter, as its east-west pipeline allowed it to ship millions of oil barrels out of the Gulf despite conflict in the Middle East.
Profits at Saudi Aramco hit $33.6bn (£26.9bn) in the first three months of the year, while revenue rose nearly 7% compared with a year earlier to $115.5bn.
The boost in profits came even as Aramco grappled with attacks on its infrastructure and a halt to exports through its Gulf ports.
