The Aramco Accounts: Inside the World’s Most Profitable Company - Bloomberg

The Aramco Accounts: Inside the World’s Most Profitable Company - Bloomberg:

"It’s a cornerstone of the global economy, producing and selling 10 million barrels of oil every day. Yet for four decades the financial performance of Saudi Aramco has been one of the biggest secrets in global business, limited to a tiny circle of executives, government officials and princes.

Now, a first glimpse of the state oil giant’s finances shows Aramco churned out $33.8 billion in net income the first six months of 2017, easily outstripping U.S. titans like Apple Inc., JPMorgan Chase & Co. and Exxon Mobil Corp.

The numbers seen by Bloomberg News give investors the most extensive set of data yet to assess the possible value of a once-in-a-generation deal for financial markets: Aramco’s proposed initial public offering. And with Aramco generating the bulk of Saudi Arabia’s revenue, the accounts also provide sovereign bond investors with a unique insight into the kingdom’s financial health."



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