ZCZC
BCN-07
SAUDI-ARAMCO-EARNINGS
Saudi Aramco Q1 profit dives, says virus to hit 2020 results
RIYADH, May 12, 2020 (BSS/AFP) – Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, and said the coronavirus crisis will dampen demand and earnings in the year ahead.
The world’s largest listed firm said it posted a net profit of 62.5 billion riyals ($16.66 billion) in the first three months of the year, compared to $22.2 billion a year earlier.
BSS/AFP/MMA/1312HRS