Saudi Aramco Q2 profits drop by nearly 40% from last year ...Kuwait

The New Arab - News

Oil firm Saudi Aramco on Monday announced profits of $30.08 billion for the second quarter, a sharp fall from the same period last year when prices surged after Russia invaded Ukraine. The 38-percent year-on-year decline "mainly reflected the impact of lower crude oil prices and weakening refining and chemicals margins", the largely state-owned company said in a statement published on the Saudi stock exchange. The decline followed a drop of 19.25 percent in first-quarter net profit. Aramco's CEO Amin Nasser said in a separate statement that "our strong results reflect our resilience and ability to adapt through market cycles." The firm's "mid to long-term view remai

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Last updated : 07 August 2023 clock 06:04 PM

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Saudi Aramco Q2 profits drop by nearly 40% from last year ...Kuwait

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