Oil: the revenues of large companies soar
Saudi oil giant Aramco posted a net profit of $ 25.5 billion in the second quarter, almost four times more than in the same period last year.
AHMAD EL ITANI Saudi Aramco / AFP / File
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Saudi oil giant Aramco posted a net profit of $ 25.5 billion in the second quarter, almost four times more than in the same period last year.
Rising global demand and rebounding oil prices have boosted the revenues of major oil companies.
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Aramco is the latest group to report sharply improving revenues.
The Saudi state-owned company, the world's largest exporter of crude, said in a statement a net profit of $ 25.5 billion (about € 21.7 billion), compared to $ 6.6 billion ( 5.6 billion euros) in the second quarter of 2020. Cash cow of the kingdom, Aramco also announced to have paid 18.8 billion dollars in dividends to its shareholders in the second quarter, almost two years after its introduction with great fanfare on the Riyadh Stock Exchange in December 2019.
Billions of dollars in profits
Its competitors, the French TotalEnergies, BP, Shell, the American companies ExxonMobil and Chevron have posted billions of dollars in profits.
Crude prices have risen sharply for a year, they are now moving around $ 70 per barrel, against between $ 30 and $ 40 in spring 2020. The thirst for a deconfined world for fuels and the limitation of supply by fuel. 'Opep are two factors that explain this increase.
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However, uncertainty hangs over the sector.
The spread of the Delta variant of Covid-19 could once again dampen demand and lower prices.
Indeed, new confinements could be imposed with direct consequences on the economic recovery and the consumption of crude.
Investors' eyes are particularly focused on the world's leading consumers, namely the United States and China, two countries where the number of cases of contamination is increasing.
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