Saudi oil firm Aramco’s first-quarter profits up by 30% ...Egypt

DUBAI, United Arab Emirates (AP) — Saudi Aramco’s profits soared by 30 percent for the first-quarter of the year, compared to last year, riding on the back of higher crude oil prices, the oil company said Tuesday. The company’s financial results show a net income of $21.7 billion for the first three months of the year, compared to the same period in 2020 when Aramco’s earnings plunged to $16.7 billion as the early effects of the coronavirus pandemic were beginning to dramatically drive down global demand for oil. Aramco said the increase in profits primarily reflects the impact of higher crude oil prices brought on by increased global demand for crude amid ongoing vaccination programs and th

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