Profits of Saudi oil giant rise. Saudi Aramco, a major partner of Orlen, earned more than a year ago
Published
Saudi oil company Saudi Aramco reported higher profit. Adjusted net profit rose to $31.2 billion, compared with $28.6 billion a year earlier. The result was higher than analysts who follow the company's results had expected.
Saudi Aramco is one of the largest producers of crude oil in the world. For Polish readers, this company is particularly important because it is a key partner of Orlen, the largest Polish fuel group. The cooperation between the two companies concerns supplies of crude oil, a raw material needed to produce fuels in Polish refineries.
Experts point out that the current situation on energy markets is contributing to the growth in profits. According to the article's headline, it is the war that is driving the company's profits. Prices of crude oil and other raw materials have a major impact on the results of large extraction companies, which is why changes on global markets are very important for them.
Aramco's results show how the international situation can affect the fuel market. For Poland, this means that the cost of oil and the stability of supplies may matter for fuel prices at petrol stations. It is therefore worth watching how cooperation between Saudi Aramco and Orlen develops in the coming months.
Sources: Business Insider Polska
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