Saudi Aramco, the world's biggest oil producer, made core earnings of $224B last year - almost 3x as much as Apple - figures from the state-owned company showed Monday ahead of its debut international bond issue.
An employee walks past crude oil storage tanks at the Juaymah Tank Farm in Saudi Aramco's Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018.Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
Saudi energy minister Khalid al-Falih said earlier this year the planned bond sale would raise around $10 billion, but banking sources said the transaction could be larger. Aramco had earnings before interest, tax and depreciation of $224 billion in 2018. By contrast Apple, which according to Forbes was the world's top company in terms of profits last year, had earnings of $81.8 billion.
Aramco representatives will meet with investors in Asia, Europe and the United States through Friday, April 5, according to a document issued by one of the banks leading the deal.
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