Saudi Arabian state oil producer Aramco (2222.SE) reported a near four-fold rise in second-quarter net profit on Sunday, beating expectations and boosted by higher oil prices and a recovery in oil demand.
Oil prices, boosted by output cuts made by the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, closed at $70.70 a barrel on Friday and has gained over 35% since the start of the year.
Analysts had expected a net profit of $23.2 billion, according to the mean estimate from five analysts. Aramco is still working to increase its own capacity to 13 million barrels day, Nasser said, reiterating a plan announced last year.It declared a dividend of $18.8 billion in the second quarter, in line with its own target, which will be paid in the third quarter.
Yousef Husseini, equity research analyst at EFG Hermes, said Aramco may be keeping the extra cash for taking part in the new state-backed Shareek initiative, to partner with private sector investments.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Saudi Arabia opens Umrah pilgrimage to vaccinated worshipers from abroad - SPASaudi Arabia will gradually begin receiving Umrah pilgrimage requests from abroad for vaccinated pilgrims starting Aug. 9 after about a year and a half of not receiving overseas worshippers due to the COVID-19 pandemic, the state news agency (SPA) reported early on Sunday.
Consulte Mais informação »
BTS Sales Lead HYBE to 79% GrowthHYBE, home to K-pop stars BTS, improved its revenue by 79.3% to 278.6 billion KRW ($244.1 million) in Q2, although operating profit slipped.
Consulte Mais informação »
Warren Buffett's Berkshire Hathaway recovers from coronavirus slowdownWarren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday said many of its businesses are enjoying strong recoveries from the early depths of the coronavirus pandemic, fueling rebounds in profits and revenue.
Consulte Mais informação »
Pfizer, Moderna Raise Prices Of Covid-19 Coronavirus Vaccines For European UnionThe EU has now surpassed the U.S. in getting its population vaccinated. But will higher Covid-19 coronavirus vaccine prices derail this progress?
Consulte Mais informação »
Berkshire Posts Higher Profit on Railroad, Utilities and Energy OperationsBerkshire Hathaway said second-quarter net earnings rose 7%, helped by its railroad, utilities and energy divisions
Consulte Mais informação »
Cinemark Losses Narrow In Q2 As Post-Covid “Phenomenon” Takes HoldCinemark posted narrower losses in the second quarter as CEO Mark Zoradi hailed the “phenomenon” of the movie business righting itself after the catastrophe of Covid-19. The company exc…
Consulte Mais informação »