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Saudi Arabia’s giant state-owned oil company makes $47bn half-year profit – business live

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Saudi Aramco, the world’s most profitable company, to host first-ever earnings call, ahead of planned $2tn IPO

Aramco, officially called the Saudi Arabian Oil Company, is the world’s biggest supplier of oil. It produced 10m barrels of crude oil a day between January and June, far above its American rival ExxonMobil. The company has also taken a 20% stake in the oil refinery and chemicals business of India’s Reliance Industries.

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