Saudi Arabia's state-owned oil company has become the more profits accumulated during the past year, according to rating agencies Moody's & Fitch Ratings in their latest reports.
According to Moody's, Saudi Aramco had a net profit of $ 111.1 billion in 2018, with a total production of hydrocarbons 13.6 million barrels per dayWhat did he report? income in the amount of 355.9 billion dollars.
These numbers put A1 band as long-term issuer, with the possibility of achieving the highest quality, Aaa, due to its links with the state.
"Aramco has many characteristics of companies classified as Aaa, with minimum debt in relation to cash flow, large-scale production, market leadership and access to one of Saudi Arabia's largest hydrocarbon reserves," he said. Monday, April 1, Moody's analyst Rehan Akbar.
In that regard, he considered that the purchase of 70% of the petrochemical company Sabic, for 69.1 billion dollars, will strengthen the business.
The biggest producer
Fitch Ratings also highlighted in its report last Sunday that Saudi Aramco is, in volume, the world's largest oil producer, with its 13.6 million barrels per day outperforming Abu Dhabi's National Oil Company Royal Dutch Shell, Total SA and BP.
For your performance, put it on the step A +, the maximum of the classification.