Saudi Aramco profits jump despite conflict in the Middle East

Saudi Arabia’s state oil company hit £26.9bn profit – a 26% rise – in the first three months of the yearBusiness live – latest updatesSaudi Arabia’s state oil company reported a 26% jump in profit in its first quarter, as its east-west pipeline allowed it to ship millions of oil barrels out of the Gulf despite conflict in the Middle East.Profits at Saudi Aramco hit $33.6bn (£26.9bn) in the first three months of the year, while revenue rose nearly 7% compared with a year earlier to $115.5bn. Continue reading...