Tag: $Saudi Aramco

Oil giant Saudi Aramco posts 38% drop in second-quarter profit as lower prices bite

Saudi state oil giant Aramco reported 112.81 billion riyal ($30.07 billion) in net profit in the second quarter, a drop of nearly 40% from the $48.4 billion recorded in the same period of last year amid a decline in hydrocarbon prices.

Oil giant Saudi Aramco posts 19% drop in first-quarter profit

State oil giant Saudi Aramco on Tuesday reported a 19% drop in its first-quarter earnings, recording net income of $31.9 billion down from $39.5 billion the previous year amid falling oil prices.