(Wall Street Journal) Rory Jones and Summer Said - Saudi Arabia's national oil company Aramco is the world's most profitable business. With $111 billion in net income in 2018, Saudi Aramco had bigger returns last year than Apple and Exxon Mobil combined. The financial information was disclosed on Monday in a prospectus for a planned bond sale. Saudi Crown Prince Mohammed bin Salman, the kingdom's day-to-day ruler, wants to raise tens of billions of dollars to build new futuristic cities, diversify the kingdom's oil-dependent economy and fund non-oil industries like technology, entertainment and mining.
2019-04-10 00:00:00Full ArticleBACK Visit the Daily Alert Archive