Saudi Aramco first-half profit falls 12% on lower oil prices

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The decline in the price of crude oil and an increase in costs sees Aramco’s profits fall 12%. FMTNews

Saudi Aramco’s production facility at Shaybah oilfield in the Empty Quarter, Saudi Arabia.

Net income was US$46.9 billion in the first six months of the year, down from US$53 billion a year earlier, state-owned Aramco said Monday in a statement. Aramco will hold its first-ever earnings call with investors later Monday as it tiptoes toward the greater disclosure required of public companies.

 

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