It was always suspected, and now it’s official. Saudi Aramco is the world’s most profitable company.
Jealously guarded financial data about the kingdom’s prized asset were disclosed to bond investors for the first time on Monday. Aramco’s $111.1 billion profit in 2018 easily dwarfed all other businesses on the planet, a stunning result for a company that also paid the Saudi government $102 billion in taxes last year.
Aramco, which produces about 10 percent of the world’s crude, spends just under $3 a barrel to pump its crude.
Read the full story, "Aramco's big reveal: What we learned about the Saudi oil giant," on bloomberg.com.
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