DUBAI, United Arab Emirates—Saudi energy company Aramco said Sunday its profits jumped 90 percent in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion.
Major oil companies had a strong quarter with Exxon Mobil booking an unprecedented $17.85 billion profit while Chevron made a record $11.62 billion. The UK’s Shell shattered its own profit record.
Aramco’s net profits were helped by second-quarter earnings ending in June that hit $48.4 billion—a figure higher than all of the first six months of 2021, when profits reached just $47 billion. It sets a new quarterly earnings record for Aramco since it first floated around 5 percent of the company on the Saudi stock market in late 2019….