Saudi Aramco profit drop down in half year

in LeoFinance8 months ago

Saudi Aramco has reported a 50% reduction in net income in the first half of the fiscal year, reflecting a dangerous year for the oil market and the global economy as the coronavirus continues to plague the world.

Most of Saudi Arabia's state owned oil companies and the world's largest crude producer also maintain a $ 18.75 billion dividend in the second quarter and will be paid in the third quarter. The same amount of its first quarter quarterly quarterly dividend was paid in the second quarter quarterly.

Aramco said the impact was due to the fall in crude oil prices and the reduction in refining and chemicals. Despite the global financial crisis and energy sector, Aramco has announced a $ 18.75 billion monthly dividend for the second quarter, which is $ 13.4 billion for the second quarter of 2019.

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