Bank of America (BofA) predicted a decline in quarter-on-quarter earnings for Saudi Aramco, which is set to report results on November 1st, citing a drop in refining margins from the previous quarter, Rigzone reports, citing documents obtained from BofA Global Research. While BofA expects Aramco revenues to be up 35% year-on-year, quarter-on-quarter earnings are expected to drop by 16%, Rigzone cited the BofA report as noting. At the same time, EBITDA is expected to jump 33% YoY and drop 9% quarter-on-quarter, with net income poised…
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