Saudi Aramco's net profit soars 2.6 times in 3Q2021

The net profit of the Saudi Arabian Oil Company (Saudi Aramco) in the third quarter of 2021 was $30.4 billion, up from $ 11.8 billion a year earlier. Thus, the increase was 158% or 2.6 times, Report informs, citing the company.

The increase in profits is directly related to the rise in oil prices. The company will give $18.8 billion in dividends to shareholders for the third quarter of 2021.

Saudi Aramco's free cash flow during the reporting period tripled year-on-year to $28.7 billion.

Aramco said its total hydrocarbon production was the equivalent of 12.9 million barrels a day, including 9.5 million barrels of crude.