SAUDI ARABIA - The World’s Most Profitable Company

Arno Froese

Saudi Aramco is by far the most profitable company in the world, according to financial data disclosed by the state-run oil giant in Saudi Arabia.

The company made a whopping $111 billion in 2018, the data shows. By comparison, Apple made $59.53 billion in fiscal 2018. Saudi Aramco also made more money than J.P. Morgan Chase, Google-parent Alphabet, Facebook and Exxon Mobil combined. Put together, those companies made nearly $106 billion in 2018, according to FactSet.

Saudi Aramco made its financial information available in a prospectus for a $10 billion bond sale, which the company plans to use to finance a nearly $70 billion stake in Saudi Arabia’s petrochemicals company.

“Credit linkages to the government of Saudi Arabia (A1 stable; A1 foreign currency ceiling) are significant, and result in our decision to constrain Aramco’s rating to that of the government,” Rehan Akbar, senior credit officer at Moody’s, said in a note. 

“While there is a clear track record of Aramco having been run as a commercially independent company, the government’s budget is highly reliant upon contributions from Aramco in the form of royalties, taxes and dividends,” Akbar added.

-www.cnbc.com, 1 April 2019

Arno's commentary

Saudi Arabia is considered by some to be one of the most repressive regimes when it comes to human rights. Interestingly, though, we do not hear of boycott movements against Saudi Arabia. Why not? Because, in plain words, money speaks louder than the law.

The CIA Factbook notes: “Despite having a large expatriate community of various faiths (more than 30% of the population), most forms of public religious expression inconsistent with the government-sanctioned interpretation of Sunni Islam are restricted. Non-Muslims are not allowed to have Saudi citizenship, and non-Muslim places of worship are not permitted.” GDP per capita was listed at $54,500 for 2017. Super-rich, super-religious, and super-oppressive, yet—based on the prophetic future—Saudi Arabia will also become subject to the last global empire under the leadership of Antichrist.

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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