Saudi Aramco’s profits drop by 73.4% in Q2

0 9

Give Iftar and Sahur this Ramadan

Feeding the poor and needy is an act that draws us closer to Allah. We earn His forgiveness, mercies and blessings through this act of charity.

“Whoever gives food to a fasting person with which to break his fast will have a reward equal to his, without it detracting in the slightest from the reward of the fasting person” Al-Tirmidhi

YOU MIGHT ALSO LIKE

Saudi Arabia’s oil giant, Aramco, yesterday said its net profits for the second quarter of this year had dropped by 73.4 per cent, resulting from a global decline in crude oil prices.

The state-owned company said in a statement that its profits had declined by 50 per cent in the first quarter of the year, to $23.2 billion compared to $46.9 billion during the previous year.

Aramco’s CEO, Amin Nasser, told reporters that profits were affected by the “current unfavourable conditions resulting from the decline in crude demand and prices.”

“The COVID-19 crisis is unlike anything the world has experienced in recent history and we are adapting to a highly complex and rapidly changing business environment,” Nasser said, noting that he was seeing a “partial recovery in the energy market as countries around the world take steps to ease restrictions and reboot their economies.”

READ: Saudis angered as petrol prices rise 34%

Support Islam Religion Guardian
At the present time, we are running on very limited funds. In order for us to run Islam Religion Guardian service efficiently, we are in need of your generous support.

Middle East Monitor

Subscribe to our newsletter
Sign up here to get the latest news, updates delivered directly to your inbox.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy