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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Aramco Q3 earnings up 158%

Oil workers
  • Aramco's net income was $30.4 billion in the third quarter, up from $11.8 billion in Q3 last year
  • This, even as free cash flow more than doubled to $28.7 billion

Saudi Aramco’s earnings rose 158 percent year-on-year in the third quarter on higher oil prices and volumes sold as the global economy recovered, it said on Sunday.

Aramco’s net income was $30.4 billion in the third quarter, up from $11.8 billion in Q3 last year, with free cash flow more than doubling to $28.7 billion. Shareholders will receive $18.8 billion in dividends.

“The increase in net income was primarily the result of higher crude oil prices and volumes sold,” the Saudi oil giant said in its earnings statement.

It also cited “stronger refining and chemicals margins in Q3, which were underpinned by rebounding global energy demand and increased economic activity in key markets”.

The latest rise comes after profits nearly quadrupled in Q2 as the world economy bounced back from the Covid crisis, lifting demand and pushing oil prices back above $80 a barrel.

“Some headwinds still exist for the global economy, partly due to supply chain bottlenecks, but we are optimistic that energy demand will remain healthy for the foreseeable future,” Aramco chief executive Amin Nasser said.