The disclosed earnings are likely lower than past projections, as they cover the period when oil production was crippled by September drone attacks.
Saudi Aramco told bankers working on its initial public offering that it earned $68 billion in the first nine months of 2019, Bloomberg reported Tuesday. The disclosed earnings establish Aramco as the world's most profitable company ahead of its record IPO. The nine-month figure is likely dragged down by September drone attacks on Aramco facilities. The state-owned firm was forced to rely on oil reserves as it repaired damaged infrastructure.
Saudi Aramco told bankers working on its initial public offering that it earned $68 billion in the first nine months of 2019, Bloomberg reported Tuesday. The disclosed earnings establish Aramco as the world's most profitable company ahead of its record IPO. The nine-month figure is likely dragged down by September drone attacks on Aramco facilities. The state-owned firm was forced to rely on oil reserves as it repaired damaged infrastructure.
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