Saudi Arabia’s state oil company has emerged as the most profitable business in the world, racking up profits of $111.1bn (£84.7bn) in 2018 to overtake Apple.
According to a rare glimpse into its finances contained in a bond-offering document, Saudi Aramco made the profit on revenues of $355.9bn last year, as it produced 10.3m barrels per day of crude oil.
The snapshot, published on Monday by the credit ratings agency Moody’s Investors Services, places the company in a league above Apple, which made a profit of $59.5bn in 2018. » | Richard Partington | Monday, April 1, 2019
