Saudi Oil Giant Aramco Sees Half-Year Earnings Climb to $47 Billion

Saudi Aramco engineers and journalists look at the Hawiyah Natural Gas Liquids Recovery Plant in Hawiyah, in the Eastern Province of Saudi Arabia on June 28, 2021. Amr Nabil/AP Photo

DUBAI, United Arab Emirates—Saudi Arabia’s oil-producing company, Aramco, announced Sunday a net income of around $47 billion for the first half of the year, double what it earned over the same period last year when the coronavirus grounded travel and pummeled global demand for oil.

This puts Aramco back squarely where it was before the pandemic struck and sunk earnings to $23.3 billion in the first six months of 2020.