Saudi Aramco Is World’s Most Profitable Company, Far Exceeding Apple

Re:Saudi Aramco Is World’s Most Profitable Company, Far Exce... by gimmeThaBeet on Monday April 01, 2019 @01:30PM (#19545791)

I guess it depends on which numbers you're using. The $111 billion quoted number for net income does not include the $55.6 billion in royalties to the Kingdom that Aramco records as an expense.

Yes, the royal family is the only shareholder and the government, so it's splitting hairs in the sense they're getting the money from those mineral rights, on the other hand its even more money. But if they sold the whole kit and kaboodle last year, whoever owned it would make $111B and the Kingdom would get $55.6B.

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Re:Saudi Aramco Is World’s Most Profitable Company, Far Exce... by rhizome on Monday April 01, 2019 @02:49PM (#19546737)

That sounds like an arrangement very similar to Venezuela's oil industry, except with a level of personal enrichment far beyond the structure of Venezuela's industry, which has enjoyed constant opprobrium as the work of a dictator.

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