Aradel’s annual profit jumps almost fivefold amid mega boost to crude oil exports

Aradel Holdings reported an almost five-time surge in net profit for last year compared to 2023, with the strikingly strong result deriving strength from increased crude oil sales to overseas buyers.

Exported crude became the dominant revenue earner for the integrated energy company during the period, contributing more than three-fifths of turnover.

That compares to the preceding year, when it accounted for less than 50 per cent, while domestic sales took the lion’s share.