Saudi Oil Revenue for 1H2019 Beat 1H2018 by 15.39%
Posted on 08/27/2019
The Saudi Arabian government generated 905,609,000,000 SAR in revenue for fiscal year 2018, according to a Saudi MoF report. Oil revenues were 611,239,000,000 SAR versus a budget amount of 492,000,000,000 SAR. There was a deficit of 173,858,000,000 SAR for the FY 2018.
Oil revenue for the first fiscal half of 2018 was 298,112,000,000 SAR versus 343,997,000,000 SAR for the first half of 2019. When comparing total revenue for the similar period, it came out to 439,851,000,000 SAR for 1H 2018 versus 506,112,000,000 SAR for the first half of 2019.
Saudi Aramco is looking at a potential offering for as early as 2020. In the first six months of the fiscal year, Saudi Aramco posted a profit of US$ 46.9 billion. Saudi Aramco’s IPO plans were first covered back in 2016.
Keywords: Ministry of Finance of Saudi Arabia
