Saudi Aramco made $112 Billion...... in profit last year.

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for the first time on Monday. Aramco’s $111.1 billion profit in 2018 easily dwarfed all other businesses on the planet, a stunning result for a company that also paid the Saudi government $102 billion in taxes last year.

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Aramco had revenue of $355.9 billion, according to the Moody's note, and $48.8 billion of cash on the books at the end of last year. That's far more than its debt of $27 billion. It was helped by a 31% increase average oil prices in 2018 compared to 2017.

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Aramco planned to go public last year. It would have put 5% of the company up for sale in what might have been the largest initial public offering ever. The Saudis were reportedly looking to raise $100 billion in the offering, which would value the company at $2 trillion, or twice as much as Microsoft (MSFT), the most valuable public company with a market value of $904.8 billion.

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