Saudi Aramco told bankers working on its initial public offering that it earned $68 billion in the first nine months of 2019, Bloomberg reported Tuesday. The disclosed earnings establish Aramco as the world's most profitable company ahead of its record IPO. The nine-month figure is likely dragged down by September drone attacks on Aramco facilities. The state-owned firm was forced to rely on oil reserves as it repaired damaged infrastructure.
Saudi Aramco told bankers working on its initial public offering that it earned $68 billion in the first nine months of 2019, Bloomberg reported Tuesday. The disclosed earnings establish Aramco as the world's most profitable company ahead of its record IPO. The nine-month figure is likely dragged down by September drone attacks on Aramco facilities. The state-owned firm was forced to rely on oil reserves as it repaired damaged infrastructure.
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