22-03-2022, 08:07 AM
PUBLISHED MAR 21, 2022, 7:51 AM SGT
DUBAI (REUTERS) - Saudi Arabia's state oil company Aramco, under pressure from the West to boost output amid soaring prices, pledged on Sunday (March 20) to hike investments by around 50 per cent this year as it reported a more than doubling in 2021 profits.
Saudi Aramco benefited from a more than 50 per cent surge in oil prices last year as increased Covid-19 vaccination rates and loosening restrictions resulted in demand outpacing supply.
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The company posted a 124 per cent jump in 2021 net profit to US$110 billion, up from US$49 billion a year earlier.
https://www.straitstimes.com/business/co...oil-prices
DUBAI (REUTERS) - Saudi Arabia's state oil company Aramco, under pressure from the West to boost output amid soaring prices, pledged on Sunday (March 20) to hike investments by around 50 per cent this year as it reported a more than doubling in 2021 profits.
Saudi Aramco benefited from a more than 50 per cent surge in oil prices last year as increased Covid-19 vaccination rates and loosening restrictions resulted in demand outpacing supply.
......
The company posted a 124 per cent jump in 2021 net profit to US$110 billion, up from US$49 billion a year earlier.
https://www.straitstimes.com/business/co...oil-prices
