Saudi Aramco's profit plunges 73.4%, sees signs of oil market recovery

Malaysia News News

Saudi Aramco's profit plunges 73.4%, sees signs of oil market recovery
Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Saudi state oil group Aramco on Sunday reported a 73.4% fall in second-quarter net profit, a steeper drop than analysts had forecast, and said it expected capital expenditure for 2020 to be at the lower end of a $25 billion to $30 billion range.

) on Sunday reported a 73.4% fall in second-quarter net profit, a steeper drop than analysts had forecast, and said it expected capital expenditure for 2020 to be at the lower end of a $25 billion to $30 billion range.

The world’s biggest oil exporter said the rapid spread of COVID-19 globally had significantly reduced demand for crude oil, natural gas and petroleum products. Net profit fell to 24.6 billion riyals for the quarter to June 30 from 92.6 billion riyals a year earlier. All major oil companies have taken a hit in the second quarter as lockdowns to contain the coronavirus limited travel, which hurt oil demand and sent oil prices LCOc1 tumbling to levels not seen in nearly two decades.

 

The optimist fell ten stories But at each window bar Cried out to those inside “All right so far!”

Nice. 👍

Yes - a start to the fall.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK housing market saw 'mini-boom' in July, Halifax saysUK housing market saw 'mini-boom' in July, Halifax saysBritish house prices saw a 'mini-boom' as the market reopened following the coronavirus lockdown, mortgage lender Halifax said on Friday. Is it because they're not allowed to move to Spain? Abdul Rasheed Qureh hashmi 03060420285tm Abdul Rasheed Qureh hashmi 03060420285tm
Read more »



Render Time: 2025-01-10 21:06:03