Saudi Aramco posted a 90% increase in quarterly earnings, following big oil rivals with a surge in profits due to higher crude prices and production.
Aramco's net income rose to $48.4 billion in the second quarter, up from $25.5 billion a year ago, the state-controlled company said on Sunday.
Chief Executive Officer Amin Nasser said in a statement that Aramco expects to grow oil demand for the rest of the decade.
The dividend, which is a vital source of revenue for the kingdom's government, was unchanged at $18.8 billion.
Aramco is in a rare sweet spot, benefiting from both high production and sales prices. The economic rebound from the coronaviruses epidemic has resulted in high demand for fuels as Russia invades Ukraine has sent crude prices soaring for the first half of the year.
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