Saudi Aramco's net profit fell almost 47%

In nine months of 2020, the Saudi Aramco company has cut its net profit by almost 2 times compared to the same period last year. This figure was $35.015 billion, Angi reports.

Diluted earnings per share for the first nine months is estimated at $0.18 versus $0.34 a year earlier. At the same time, the company's revenue amounted to $146.362 billion, down 46.8% in annual terms.

The average oil production of the state oil and gas company Saudi Aramco in the first nine months of 2020 was 9.2 million barrels per day.

Earlier, ExxonMobil plans to cut some of its employees.

Tags: oil, RF, price, oil products, Saudi Arabia, decline in production, oil market

Read also

Brent price went down to $54.56 per barrel
Iranian companies sign eight agreements to boost oil production
Brent price decreased to $56.16 per barrel