World’s Most Profitable For 2018 Was Saudi Aramco Ahead Of Apple

The most profitable company is the world for 2018 was Saudi Arabia’s state oil company Saudi Aramco. This oil giant overtook United States’ tech giant and iPhone market Apple to reach the top position with a total profit of $111.1 billion.

This information was seen for rare occasion when outsiders were able to get a glimpse of the finances of the company as contained as a part of a bond-offering document. According to that document, in 2018, Saudi Aramco generated revenues of $355.9 billion against a total production of 10.3 million barrels per day of crude oil.

This data was published by the credit ratings agency Moody’s Investors Services on Monday and clearly showed that the company was ahead of Apple Inc which raked up profits of $59.5 billion last year.

The figure also shows that last year, the profits made by Saudi Aramco was four times greater than the profits of other oil industry rivals which included names such as the Anglo-Dutch company Royal Dutch Shell with a profit of $23 billion and the US company Exxon Mobil which made profits of $21 billion.

All of teh other corporate in the world are virtually dwarfed beside the scale of Aramco. However this state owned Saudi company is also amongst the most secretive about its finances and business plans. With exclusive access to nearly all of Saudi Arabia’s vast hydrocarbon reserves, this company is the largest producer and supplier of oil in the world. The Saudi oil reserves are the largest in the world as well.

Earlier, a part of the company had been announced to be taken public through floatation of an initial public offering as planned by its Suadi owners which would have valued the company at approximately $2 trillion which is twice the valuation of Apple. But that plans was put on hold last year. One of the potential listing destinations for the Aramco IPO was London even though there were controversies as it was alleged that the London Stock Exchange had bent rules related to corporate governance to especially accommodate Aramco and allow it to list there.

There have been reports in the media that the Saudi oil giant is also preparing to raise about $10 billion by offering bonds for sale to international investors. The aim of raising the money is to finance its plans of acquisition of rival company Sabic for a deal worth $69.1 billion. And the huge profits made y the company would make it easy easier for it to sell the bonds at a premium.

The company was however not granted the highest possible credit rating of Aaa by Moody’s as the ratings agency said that the reason was the “close interlinkages” of the company with Saudi Arabia. The company was instead given a rating of A1 which is the same as the Saudi sovereign.

(Adapted from


Categories: Economy & Finance, Regulations & Legal, Strategy, Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: