Riyad May 16 2022: Saudi Aramco has posted its highest profits since its 2019 listing as oil and gas prices surge around the world.
The state-owned energy giant saw an 82% jump in profits, with net income topping $39.5bn (£32.2bn) in the first quarter.
In a press release, the firm said it had been boosted by higher prices, as well as an increase in production.
The invasion of Ukraine has seen oil and gas prices skyrocket.
Russia is one of the world’s biggest exporters but Western nations have pledged to cut their dependence on the country for energy.
Oil prices were already rising before the Ukraine war as economies started to recover from the Covid pandemic and demand outstripped supply.
