Leaked financial information for the world’s largest oil company, Saudi Aramco, reveals one of the most closely held secrets in the energy industry, if the figures are accurate.
Saudi Arabia’s national oil company earned $33.8 billion in the first half of 2017, according to financial information obtained by Bloomberg News and disputed by the company.
For comparison, Apple, the world’s most valuable publicly traded company, earned $28.9 billion in the same period. Aramco’s first-half earnings for 2017 are more than four times the $7.4 billion earned by Exxon Mobil, the largest energy company by market capitalization. […]
This sounds more like a PR leak than anything else. I read it with a grain of caution in the “fake news” era. Question
– Wouldn’t this type of financial disclosure be required prior to the Aramco IPO – or when they decided to list in Saudi Arabia is that no longer the case.
That said – 4 times the size of Exxon is amazing, if true.