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Economy

Alpha Dhabi H1 profit $1.79bn

Adjusted EBITDA rises to $2.36bn.

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

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.

Saudi GDP surges 12.2% in Q2, surpassing estimate

The industry is responsible for 37 percent of global carbon dioxide emissions. (AFP)
By TRENDS Desk
September 7, 2022 1:18 pm
  • The oil economy grew 4.4 percent in the second quarter from the first quarter
  • Non-oil activities rose by 8.2 percent on an annual basis and 4.5 percent from the first quarter

Riyadh, Saudi Arabia—Saudi Arabia’s real gross domestic product has surged by 12.2 percent in the second quarter compared with the same period of 2021, data showed on Wednesday,

The world’s top oil exporter has benefited from high crude prices and a post-pandemic recovery.

The growth figure exceeded a government estimate at the end of July of 11.8 percent GDP growth. The economy grew 2.2 percent from the first quarter.

The General Authority for Statistics said: “The growth is mainly due to the high increase in oil activities by 22.9 percent y-o-y”. The oil economy grew 4.4 percent in the second quarter from the first quarter.

Non-oil activities rose by 8.2 percent on an annual basis and 4.5 percent from the first quarter. Government activities grew by 2.4 percent in the year to end-June, a 0.4 percent rise compared to the first quarter.

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