FILE - In this March 9, 2020, file photo, a security person wears a mask as he checks vehicles entering a compound for Saudi Aramco in Jiddah, Saudi Arabia. Saudi Aramco's net income plunged by 50% in the first half of the year, according to figures published Sunday, Aug. 9, 2020, offering a revealing glimpse into the impact of the coronavirus pandemic on one of the world's biggest oil producers.
Profits for the first six months of the year plunged to $23.2 billion, half of last year’s $46.9 billion for the same time period. Aramco CEO Amin Nasser acknowledged the company’s finances were impacted by “strong headwinds from reduced demand and lower oil prices” sparked by the pandemic, which halted flights around the world and plunged economies into recession, including Saudi Arabia’s.
Aramco was knocked out of it’s top spot as the world’s most valuable listed company by Apple in recent days. It’s stock price gained a little on Sunday, trading at around 33 riyals a share. At its highest, Aramco traded above $10 a share in December and at it lowest slipped to $7.20 a share in March.
Cry me a river. There 3 months profits are still in the billions....yeah with a B. They will be fine.
Personally, I take great joy in watching the collapse of the international oil industry. And look forward to the collapse of those countries that sell it. Every tanker worth they sell, kills thousands. Global warming is still here. Still marching. Still killing, everything.
You're sure that the price war they started didn't have anything to do with it, are you?
Less money to buy weapons from America
your so blind sighted, here is Exxon Mobile quarter net loss of 1.1 billion $, however Aramco announced net profit of 6.6 billion $ we never a tweet about it? oops it doesn't concern Saudi right
Do not forget about Iranian students who are not able to secure their U.S. visa appointments due to the pandemic! iranian_students_visa_appointments iranian_students_US_visa_appointments USAinUAE StateDept usembarmenia USEmbassyTurkey USAdarFarsi
And, you know, the rock bottom oil price.
Aramko is being rest !
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