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Saudi Aramco Q1 Net Profit Surges 82%

The Saudi Arabian Oil Company reported first quarter net income of $39.5 billion, a 82% increase from $21.7 billion in the prior year, primarily driven by higher crude oil prices and volumes sold, and improved downstream margins.

For the first quarter, cash flow from operating activities was $38.2 billion compared to $26.5 billion in the previous year.

Free cash flow rose for the quarter 68% to $30.6 billion.

Aramco continued to deliver a stable dividend in the first quarter, with $18.8 billion to be paid to shareholders in the second quarter.

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