Saudi oil giant Aramco sees half-year earnings climb to £33.9bn

Saudi Arabia’s oil-producing company, Aramco, has announced a net income of around 47bn US dollars (£33.9bn) for the first half of the year (Andrew Milligan/PA)

Saudi Arabia’s oil-producing company, Aramco, has announced a net income of around 47 billion US dollars (£33.9 billion) for the first half of the year, double what it earned in the same period last year when Covid-19 grounded travel and pummelled global demand for oil.

It puts the company back to where it was before the pandemic struck and sunk earnings to 23.3 billion dollars (£16.8 billion) this time last year.