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Business, Economy, Energy, Markets

TAQA Q1 net income $571m

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Despite lower profit, it will pay $31bn in dividends to Saudi government.

Aramco stock rises 4%

Ukraine's invasion by key producer Russia has stoked supply fears.
By TRENDS Desk
February 22, 2022 12:31 am
  • The share price hit SR39.3 ($10.5) yielding a market cap of $2.09 trillion
  • Earlier in the session, the shares hit an all-time high of SR40 ($11)

The Shares of Saudi Aramco soared over 4 percent to an all-time closing high in Monday’s trading session on the Saudi stock exchange.

At the closing bell, the share price hit SR39.3 ($10.5) yielding a market cap of $2.09 trillion.

Earlier in the session, the shares hit an all-time high of SR40 ($11).

Most recently, a four percent stake of the oil giant had been transferred to Saudi Arabia’s sovereign wealth fund in an $80 billion deal.

Saudi Aramco is based in Dhahran and is one of the largest companies of the world in terms of revenue.

 

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