RIYADH: SATORP, a joint venture between oil giant Aramco and France’s Total Oil Co., has turned into profit of SR1.43 billion ($382 million) in the first quarter of 2022. It managed to erase losses of SR621 million from the same period a year earlier as sales more than tripled to SR17.4 billion, according to a bourse filing. The firm attributed the improved results to “the
RIYADH: Saudi Arabia’s stock market closed higher on Sunday, propelled by bumper financial results that beat analysts’ forecasts for oil giant Aramco. TASI added 0.83 percent to 12,875 points, with Aramco soaring 3.35 percent to near a record high as profits surged 124 percent to SR412 billion ($110 billion). With the latest share hike, the oil giant approached $2.31 trillion