Saudi Arabia's Aramco Is The Most Profitable Company In The World

Daily Mail/AFP: Saudi oil company Aramco is revealed as the world's most profitable firm after making $111BILLION last year

* The oil giant published its accounts for the first time in a bid to attract investors
* Aramco will sell bonds to raise $69 billion to buy out petrochemical giant SABIC
* The figure dwarfs combined profits of Chevron, Exxon Mobil, BP, Shell and Total

Oil giant Saudi Aramco has revealed it made the world's biggest corporate profit last year, opening its secretive accounts for the first time as it prepares to raise funds from investors.

International ratings agencies Fitch and Moody's got rare access to Aramco's accounts which show net profits reached $111 billion (£84.6 billion) last year.

It comes as Aramco prepares to sell bonds on the international market to help finance the purchase of a 70-percent stake in Saudi petrochemical behemoth SABIC for $69.1 billion (£52.7), effectively merging the kingdom's two largest companies.

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WNU Editor: So where is all the money going? .... Saudi Aramco Is The Most Profitable Company In The World, But Where Is All The Money Going? (Ellen R. Wald, Forbes).

More News On Saudi Arabia's Aramco Company

Rare glimpse into Saudi Aramco shows $111 billion net profit -- AP
Saudi Aramco made $111 billion in 2018, topping Apple as the world’s most profitable company by far -- CNBC
Saudi Aramco 'made $224 billion profit' last year -- AFP
Saudi Aramco is the world's most profitable company -- CNN
Aramco Unveils Financial Secrets of World's Most Profitable Firm -- Bloomberg
The biggest company you've never heard of is more profitable than Apple, Amazon, and Google combined -- Insider
Saudi Aramco revealed as world’s most profitable company -- RT