Aramco Books $40 Billion Q1 Profit On Oil Rally…
The figure represented an 82-percent annual improvement and a record quarterly profit for Aramco since it went public three years ago. Free cash flow rose to $30.6 billion…

“Energy security is vital and we are investing for the long term, expanding our oil and gas production capacity to meet anticipated demand growth and creating long-term shareholder value by capitalizing on our low lifting cost, low upstream carbon intensity, and integrated downstream business,” said chief executive and president Amin Nasser.

Thanks to its strong financial performance, Aramco last week dethroned Apple as the world’s most valuable company, as rising oil prices pushed its stock higher for a total market cap of $2.426 trillion.