SINGAPORE (ICIS)--Energy giant Saudi Aramco on Tuesday said that its net profit rose by 30% year on year to riyal (SR) 81.4bn in the first quarter, primarily driven by a stronger oil market.
|Saudi riyal (SR) billions||Q1 2021||Q1 2020||% change|
- Higher refining and chemicals margins also
supported profit growth in the first quarter,
partly offset by lower production, the company
said in a statement filed on the Saudi bourse,
- Q1 net profit growth also supported by the consolidation of SABIC’s results.
- Saudi Aramco's average total hydrocarbon production of 11.5m barrels per day of oil equivalent in the first quarter of 2021, including 8.6m barrels per day of crude oil.
($1 = SR3.75)