Aramco, the oil company of the kingdom of Saudi Arabia is the richest oil company in the world. The company has unveiled, for the first time since its nationalization in the 70s, its financial statements which show that in 2018 it achieved a net profit of 11 billion dollars, a sensational figure that gives it the podium in the world rankings .
The Saudi oil giant had to submit its accounts to the rating agencies, a necessary condition for the valuation of the company in view of theissue of Aramco bonds for 10 billion of dollars scheduled for this week to finance part of the acquisition of 70% of the petrochemical group Sabic for 69,1 billion. And he thus revealed that it is by far the largest company in the world for profits.
Saudi Aramco reported a net profit of 111,1 billions of dollars in the 2018, Moody's said in a statement. A profit five times higher than that of the major oil majors: by comparison ExxonMobil – the most important private sector oil & gas group – looks like a Lilliputian with just $20,8 billion in 2018 profit. To get an idea of the figures at stake, it is useful to remember that the Italian Eni has presented an adjusted profit of €4,59 billion
