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Data reveals Aramco's huge profits

President and CEO of Saudi Aramco, Amin H. Nasser (R) delivers a speech during 2nd day opening session of 23rd World Energy Congress. Photo: Isa Terli/Anadolu Agency/Getty Images

Oil giant Saudi Aramco made nearly $34 billion in net income during the first half of 2017, making it the world's most profitable company, according to data viewed by Bloomberg News. Profits are also likely to be much higher this year thanks to increased oil prices.

Why it matters: The story reveals extremely closely held financial data as the state-owned Aramco readies what's likely to be the largest IPO ever, although the listing appears delayed until at least 2019 and is soaked with uncertainties.