The state-owned oil producer says earnings were the highest in any quarter since it went public
Saudi Aramco's logo at the oil facility in Abqaiq, Saudi Arabia. Picture: MAXIM SHEMETOV/ REUTERS
The world’s top oil exporter was forecast to post a net income of $38.5bn, according to a median estimate from 12 analysts provided by the company. Brent crude prices ended the first quarter up almost 70% to $107.91 a barrel from the end of March 2021. The company declared a dividend of $18.8bn to be paid in the second quarter, in line with market expectations, and approved the distribution of one bonus share for every 10 shares held in the company.
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