Saudi Arabia's state oil producer Aramco reports 90% profit growth
Saudi Arabia's state oil producer Aramco reported a 90 percent profit increase in the second quarter, beating analysts' expectations, helped by higher oil prices, sales volumes and refining margins.
Aramco's net income rose to 181.64 billion rials ($48.39 billion) in the quarter to June 30 from 95.47 billion rials a year earlier. Analysts had expected a net profit of $46.2 billion.
The company announced a second-quarter dividend of $18.8 billion, in line with its own target, to be paid in the third quarter.