Saudi Aramco made US$224 billion profit last year, says Fitch
The Khurais oil field, about 160km from Riyadh, Saudi Arabia. The kingdom's oil giant Saudi Aramco has 52 years of proven reserves, says Fitch Ratings. – EPA pic, April 1, 2019.
SAUDI Aramco, the world’s largest oil company, posted US$224 billion in earnings before tax last year, Fitch Ratings said today, as the secretive giant opens its accounts for the first time. Fitch assigned Aramco its first-ever credit rating – a stable A+ – as the state oil giant prepares to sell bonds to help finance the purchase of a majority stake in Saudi petrochemicals behemoth SABIC.
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