Saudi Aramco, the world's largest oil company, released a briefing showing a profit of 181.64 billion Saudi riyals in the second quarter of 2022, once again setting a record for quarterly earnings after the company went public in 2019. Continue to maintain the status of "the most profitable company in the world".

Saudi Aramco said that the increase in profit in the second quarter was mainly due to higher crude oil prices and sales and improved profit margins in the refining processing and sales division, while the company's second-quarter shareholder dividend will reach 70.3 billion Saudi riyals.

In the first half of this year, the conflict between Russia and Ukraine disrupted the global energy market, with crude oil prices rising above $120 at one point, causing refining profits to soar, not only for Saudi Aramco, but also for companies such as ExxonMobil and Shell. ExxonMobil's second-quarter net profit tripled, while Shell's second-quarter profit hit a record high.

According to data released by the Saudi National Bureau of Statistics on July 31st, the country's GDP grew by 11.8% in the second quarter of 2022 compared with the same period last year.

The latest report released by the International Monetary Fund (IMF) on July 26th shows that Saudi Arabia's economic growth forecast for 2022 remains unchanged at 7.6%, which ranks first among the world's major economies.

Because of the turbulent international situation, the supply and prices of many international bulk zirconia are still very uncertain.

What is zirconia ceramic?
Zirconia or ZrO2 is the crystalline oxide of zirconium. Its color is white or black, and it is most common in monoclinic crystal structure. Zirconia is one of the most frequently studied materials.
 
Zirconia is a kind of ceramic material, which has many advanced mechanical properties, which makes it mainly suitable for all kinds of medical devices. It is also suitable for different industries that need to use zirconia to make parts and zirconia in the future. If the conflict eases or cools, Russia and Ukraine go back to negotiate, commodity prices would fall. However, if the situation between Russia and Ukraine deteriorates further, or evolves into a full-scale war, the price of the zirconia is predicted to see further improvement over the coming days.

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