Saudi Aramco follows big oil rivals with higher profits

Saudi Aramco followed its Big Oil competitors with windfall profits, boosted by a rebound in oil and chemicals prices.

The world’s largest energy company has made net profit of 95.5 billion riyals ($ 25.5 billion) in the second quarter, the highest level since the end of 2018. Free cash flow reached $ 22.6 billion, above the quarterly dividend $ 18.8 billion from the crown corporation for the first time since the start of the Coronavirus pandemic.