A Saudi Arabian oil company's profits top US-based companies by billions of dollars, Business Insider reports.
Saudi Aramco, which is owned by the state, posted $111.1 net billion last year, according to Moody's. In comparison, Apple's earnings earned $60 billion last year and Amazon made $10 billion.
Business Insider points out that Saudi Aramco also far exceeded the profits of oil conglomerates Exxon Mobil ($20.8) and Royal Dutch Shell ($17.5 billion).
Moody's described the relationship of the company to the Saudi government.
"The company is wholly-owned by the state and is expected to remain largely under government ownership even after any potential IPO in the future," they wrote in their assessment. "The oil sector also comprises a substantial portion of Saudi Arabia's GDP and dominates its exports."
Saudi Aramco's is venturing into the international bond market, releasing its previously secret financial information for the first time.
