NEW YORK, KOMPAS.com – Saudi Aramco is the world's biggest profit-making company. The profits of the Oudi Arabia oil company which owe much to the state's state were larger than major companies, such as Apple, Facebook, and Google's parent company, the alphabet.
As it was named NCBC On Tuesday (2/4/2019), the state oil company at Saudi Arabia won 111 million US dollars in 2018. This number is almost twice as much as Apple's average in the same year, which was 59.53 billion dollars t SA.
The figure is also greater than the merger of profits from 4 companies, JP Morgan Chase, Aphabet, Facebook, and Exxon Mobile. according to Factet, a total of the four companies' profits reached 106 billion US, which is still lower than Aramco's profit.
However, although Saudi Aramco recorded a large profit, in terms of credit status, it was still under these companies.
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The reason is that Saudi Aramco is very dependent on the economic situation of the country of Saudi Arabia which can be restored to the company.
Moody's gives A1 credit rating for Aramco. Though companies such as Chevron and Exxon Mobile received higher credit ratings, A2 and Aaa respectively.
"The link between Aramco credit and the Saudi Arab government is important, and it gave us a decision to decide how Aramco laid the government's level," Mohan's chief executive of Rehan Akbar said.
"While Aramco has a clear history of running as an independent commercial company, the government's budget is very dependent on contributions from Aramco in the form of duties, taxes and parties," he said.
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