Photo: ReutersLondon: Saudi Aramco is the world’s most profitable oil company, Bloomberg reported on Friday, but its huge earnings and cash flows may still fail to justify its desired $2 trillion valuation. Bloomberg news agency cited company accounts as saying Aramco had net income of $33.8 billion in the first six months of 2017 and cash flows of $52.1 billion. That would give Aramco a market capitalisation of $2 trillion, the biggest achieved by any company and dwarfing peers such as Exxon Mobil and Royal Dutch Shell. Exxon had cash flow from operations and asset sales at $16 billion in the first half of 2017, compared with Shell cash flows of $20.8 billion. Exxon’s current market capitalisation stands at $327 billion and Shell is worth $285 billion.

Source: Mint April 13, 2018 12:56 UTC