A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo
DUBAI, Aug 7 (Reuters) – Saudi Arabian state oil giant Aramco (2222.SE) on Monday reported a near 38% drop in second-quarter net profit reflecting lower oil prices and thinner margins in refining and chemicals.
Aramco’s net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 billion a year earlier, the company said in a bourse filing, but topped the $29.8 billion expected by 15 analysts in an Aramco-provided poll.
($1 = 3.7513 riyals)
Reporting by Maha El Dahan and Yousef Saba; editing by Jason Neely
Our Standards: The Thomson Reuters Trust Principles.
Read the full article here