ZCZC
BCN-07
SAUDI-ARAMCO-ENERGY-EARNINGS
Saudi Aramco reports 44.6% dive in Q3 profit
RIYADH, Nov 3, 2020 (BSS/AFP) – Energy giant Saudi Aramco on Tuesday posted a 44.6 percent slump in third-quarter profit, as the coronavirus pandemic weighs heavily on demand for crude oil.
“Net income for the third quarter of 2020 was 44.21 billion Saudi riyals ($11.79 billion),” compared to $21.3 billion in the same period last year, the company said in a statement.
Profits dropped 48.6 percent to $35.02 billion for the first nine months of this year, the company added.
BSS/AFP/MSY/1329 hrs