Saudi Aramco’s first-half net income falls 12% to $47 billion

FAN Editor

An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia.

Ahmed Jadallah | Reuters

Saudi Aramco, the world’s top oil producer, reported first-half net income of $46.9 billion on Monday, down from $53.02 billion a year earlier.

By comparison, Apple Inc, the world’s most profitable listed company, made $31.5 billion in the first six months of its financial year.

Aramco said total revenues including other income related to sales were at $163.88 billion in the first half of this year, down from $167.68 billion a year earlier, on lower oil prices and reduced production.

Free America Network Articles

Leave a Reply

Next Post

Trump should calm things down with the Fed, and seek stronger exports to EU, China and Japan

President Donald Trump talks to reporters as he departs for travel to New York and New Jersey from the South Lawn of the White House in Washington, U.S., August 9, 2019. Leah Mills | Reuters “China is killing us” is one of President Trump’s hyperbole meant to exaggerate the economic […]