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Saudi Aramco’s income equals profits of Google, Apple – CEO

Saudi Aramco’s income equals profits of Google, Apple – CEO
Aramco’s income amounts to SAR 111 billion
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Riyadh – Mubasher: The income of Saudi Aramco equals the income of the five biggest energy companies in the world, the oil giant’s CEO Amin Nasser told Al Arabiya on Thursday on the sideline of the Financial Sector Conference (FSC) held in Riyadh.

Aramco’s income amounts to SAR 111 billion ($416.25 billion), which equal the compiled net profit of Apple and Google, he added.

Nasser stated that the Saudi energy giant was increasing its activities through a partnership with Saudi Basic Industries Corp. (SABIC) to complete the acquisition of a 70% stake in the latter. 

In March, Aramco unveiled the closure of a SAR 259.125 billion ($69.1 billion) agreement to dominate a 70% stake in SABIC.

Saudi Arabian Oil Co, Saudi Aramco, is not planning to issue more bonds in 2019, Nasser said.