{"id":1390610,"date":"2022-03-20T10:52:54","date_gmt":"2022-03-20T14:52:54","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1390610"},"modified":"2022-03-20T13:29:55","modified_gmt":"2022-03-20T17:29:55","slug":"global-oil-giant-saudi-aramco-says-annual-profit-doubled-in-2021","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/global-oil-giant-saudi-aramco-says-annual-profit-doubled-in-2021\/","title":{"rendered":"Global Oil Giant Saudi Aramco Says Annual Profit Doubled in 2021"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fglobal-oil-giant-saudi-aramco-says-annual-profit-doubled-in-2021%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1390610&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">Aramco, also known as the Saudi Arabian Oil Co., announced Sunday its net profit doubled last year as global growth turned the corner from the coronavirus downturn.<\/p>\n<p>Regarded as the crown jewel of Saudi Arabia\u2019s oil-dependent economy, its success comes as one of the world\u2019s largest producers of gas and one of the biggest oil producers, Russia, is grappling with mounting Western sanctions.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Renewed anxieties about global supply shortages, soaring oil prices and a recovery in fuel demand from the pandemic are predicted to combine in coming months to help drive prices upwards again.<\/p>\n<p>\u201cOur strong results are a testament to our financial discipline, flexibility through evolving market conditions and steadfast focus on our long-term growth strategy,\u201d Aramco president and CEO Amin Nasser said, acknowledging also that \u201ceconomic conditions have improved considerably.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Leaders from Saudi Arabia and the United Arab Emirates (UAE) have reportedly refused to take phone calls from President Joe Biden during the Ukraine crisis, after he snubbed them repeatedly during the first year of his administration. <a href=\"https:\/\/t.co\/rWIOz8qySr\">https:\/\/t.co\/rWIOz8qySr<\/a><\/p>\n<p>\u2014 Breitbart News (@BreitbartNews) <a href=\"https:\/\/twitter.com\/BreitbartNews\/status\/1501608642021593089?ref_src=twsrc%5Etfw\">March 9, 2022<\/a><\/p>\n<\/blockquote>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>AFP <a href=\"https:\/\/www.france24.com\/en\/live-news\/20220320-saudi-aramco-says-annual-profit-more-than-doubled-in-2021\">reports<\/a>\u00a0Nasser cautioned the company\u2019s outlook remained uncertain due in part to \u201cgeopolitical factors\u201d and, in an allusion to the effect of the recent price spikes on consumers, also noted that \u201cenergy security is paramount for billions of people.\u201d<\/p>\n<p>\u201cWe (therefore) continue to make progress on increasing our crude oil production capacity, executing our gas expansion program and increasing our liquids to chemicals capacity,\u201d Nasser added.<\/p>\n<p>Oil-rich Gulf countries, including Saudi Arabia, have so far resisted pressure from Western allies to raise oil output to rein in prices hit by Russia\u2019s invasion of Ukraine, stressing their commitment to the OPEC+ alliance of oil producers, which Riyadh and Moscow lead.<\/p>\n<p>Saudi Aramco\u2019s statement said capital expenditure in 2021 was up 18 percent on 2020 at $31.9 billion, a figure it expects to rise to approximately $40-50 billion this year, before further growth.<\/p>\n<p>The international oil benchmark Brent crude hovered over $107 on Sunday after nearly touching a peak of $140 earlier this month, AP <a href=\"https:\/\/www.breitbart.com\/news\/saudi-arabia-says-yemen-rebels-target-its-energy-facilities\/\">reports<\/a>.<\/p>\n<h5><em><span>Follow Simon Kent on Twitter:<\/span> <a class=\"twitter-follow-button\" href=\"https:\/\/twitter.com\/SunSimonKent\" data-show-count=\"false\">Follow @SunSimonKent<\/a> <span>or e-mail to: skent@breitbart.com<\/span><br \/><\/em><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>Aramco, also known as the Saudi Arabian Oil Co., announced Sunday its net profit doubled last year as global growth turned the corner from the coronavirus downturn. Regarded as the<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1390610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1390610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1390610"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1390610\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1390610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1390610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1390610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}