...but hey, do what you want...you will anyway.Amin H Nasser, president and chief executive of Aramco, said the company was helping to meet world demand for reliable and affordable energy against a backdrop of “increased volatility”.
[...]
OPEC+, the producers group which includes Saudi Arabia, the United Arab Emirates and Russia, agreed this month to a modest increase in its monthly oil output target, but has said it is not possible for other producers to replace Russian exports of more than 7m barrels a day.
[...]
Profits have risen despite many groups taking a hit from exiting investments in Russia as Brent crude prices have soared by almost 70% to $107.91 (£87.99) a barrel in March compared with a year before. BP said this month its profits more than doubled to $6.2bn (£5bn) in the first three months of the year. Shell has reported a record quarterly profit of $9.1bn (£7.3bn) for the first three months of the year.
[...]
Energy companies such as BP and Shell have posted their highest profits in at least a decade as a result of rising commodities prices fuelled by the unwinding of Covid-19 restrictions around the world and sanctions on Russia after its invasion of Ukraine.
[...]
Saudi Aramco, the world’s biggest oil company, has disclosed an 82% rise in quarterly profits to a new record of $39.5bn (£32.2bn).
Guardian
Sunday, May 15, 2022
Aramco would have you believe
Labels:
Aramco,
energy,
oil,
Saudi Arabia,
Shell
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