Aramco’s profits are expected to rise in the second quarter

Aramco announces its main financial results and dividends for the second quarter of 2021, on Sunday, August 8, before the opening of the Tadawul market, in line with the conditions of the Capital Market Authority, amid expectations of an increase in profits compared to the same period last year, which witnessed a decline in oil against the background of the spread of the Corona virus.

Aramco indicated that it will publish the preliminary report for the second quarter and the first half of 2021, including the full financial statements, on Monday, August 9, 2021.

Aramco’s profits, after minority interests, rose to 78.59 billion riyals at the end of the first quarter of 2021, at a rate of 24%, compared to profits of 63.53 billion riyals achieved during the same period in 2020.

Expectations indicate that Aramco will achieve profits of 90.56 billion riyals during the second quarter of 2021, an increase of 257% compared to the same period in 2020.

Aramco denied last week that it was exposed to cyber-attacks, as some websites claimed.

It is noteworthy that global energy companies have recently witnessed an escalation in cyber-attacks, as the oil pipeline company Colonial Pipe Lines was the latest victim of piracy aimed at obtaining ransom in exchange for returning data or not using it.

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