Home Business Saudi Aramco Q1 revenue rose 30% on stronger oil market By Reuters

Saudi Aramco Q1 revenue rose 30% on stronger oil market By Reuters

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© Reuters. FILE PHOTO: A view exhibits branded oil tanks at Saudi Aramco oil facility in Abqaiq

DUBAI (Reuters) – Saudi Arabian state oil producer Aramco (SE:) on Tuesday reported a 30% rise in first-quarter web revenue boosted by a stronger oil market and better refining and chemical substances margins.

Web earnings rose to $21.7 billion for the quarter to March 31 from $16.7 billion a yr earlier.

Analysts had anticipated a web revenue of $19.48 billion, in keeping with the imply estimate from 5 analysts.

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