The quarterly earnings were up nearly double from its
It also reported half-year net income of
The Saudi Arabian government holds a 95% stake in
The company cited strong market conditions as a driving factor behind the earnings boom as oil prices rose as high as
"Our record second-quarter results reflect increasing demand for our products -- particularly as a low-cost producer with one of the lowest upstream carbon intensities in the industry,"
Nasser added
"While global market volatility and economic uncertainty remain, events during the first half of this year support our view that ongoing investment in our industry is essential -- both to help ensure markets remain well supplied and to facilitate an orderly energy transition," he said.
The record profits for
Lawmakers said Biden's actions indicated efforts to warm up to the oil-rich government despite Western intelligence indicating Mohammed was directly responsible for the killing of
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