World most profitable company, Aramco made $111Billion in 2018, dethrones Apple Inc

Saudi oil company Aramco is revealed as the world's most profitable firm after making $111BILLION in 2018.

International ratings agencies Fitch and Moody's got rare access to Aramco's accounts which show the firm posting billions in profits.


It comes as Aramco prepares to sell bonds on the international market to help finance the purchase of a 70-percent stake in Saudi petrochemical behemoth SABIC for $69.1 billion (£52.7), effectively merging the kingdom's two largest companies.

The huge deal gives Crown Prince Mohammed bin Salman's ambitious reform programme aimed at diversifying the economy a massive cash boost.

Moody's Investors Service said Aramco posted a net profit of $111.1 billion (£84.8 billion) in 2018 -- far higher than the combined net earnings of the five international oil majors -- and generated $359.9 billion (£274.5 billion) in revenues.


Last year US oil giants Chevron and Exxon Mobil, Britain's BP, Anglo-Dutch rival Royal Dutch Shell and France's Total together posted nearly $80 billion (£61 billion).

Aramco also dethroned Apple as the world's most profitable firm. Last year the US tech giant posted nearly $50 billion (£38 billion) in net profits.