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Saudi Aramco: the company that announced record profits that exceed the GDP of more than half of the world’s countries

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  • BBC News World

A worker at a Saudi Aramco plant.

image source, Reuters

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Due to its light crude, Saudi Arabia is one of the countries with the greatest capacity to rapidly increase oil production.

If it were a country, it would occupy position 88 in the World Bank list that classifies 207 states in the world according to their Gross Domestic Product (GDP). Specifically, it would be located between the Democratic Republic of the Congo ($53.9 billion) and Tunisia ($46.8 billion).

And it is that Saudi Aramco, the state oil company of Saudi Arabia, has just broken its own record by obtaining as gains of US$48.4 billion during the second quarter of 2022. That figure is higher than the GDP of countries such as Bolivia, Paraguay, El Salvador, Honduras, Haiti or Nicaragua.

That’s a 90% increase from a year earlier and represents the biggest profit made by the world’s top energy exporter since it went public three years ago.

Its profits are higher than the GDP of more than half of the countries in the world.

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