SATORP swings to SAR 4.514 bln profit in H1 2022; Q2 at SAR 3.080 bln

Logo of SATORP

Saudi Aramco Total Refining and Petrochemical Co. (SATORP) reported a net profit after Zakat and tax of SAR 4.514 billion in H1 2022, versus a net loss of SAR 1.030 billion in the prior-year period.  

This was triggered by improved refining and petrochemicals margins compared to a year earlier.  

SATORP Q2 2022 net profit after Zakat and tax stood at SAR 3.080 billion, versus a net loss of SAR 409.822 million in a year-earlier period, due to improved refining and petrochemicals margins and higher throughput compared to the same quarter of the previous year. 

On a sequential basis, net profit more than doubled, from SAR 1.434 billion.

Total shareholders’ equity, excluding minority interest, stood at SAR 9.621 billion by the end of H1 2022, compared to SAR 3.980 billion in the year-earlier period.