Aramco Reports 30% Jump In Q1 Net Profit

Saudi energy giant Aramco reported a 30-percent increase in net income for the first quarter of the year to $21.7 billion, boasting free cash flow of $18.3 billion for the period. The net income result beat analyst estimates of $17.24 billion even though the company reduced its oil production in February and March. “The momentum provided by the global economic recovery has strengthened energy markets, and Aramco’s operational flexibility, financial agility and the resilience of our employees have contributed to a strong first quarter…