Saudi Arabia’s Oil Giant Aramco Reports $30B in Q2 Profits, Down Nearly 40% From Last Year

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-run oil big Aramcobrought in $30 billion in revenues within the second quarter, an almost 40% decline from the identical interval the earlier yr, which it attributed to decrease crude oil costs.

Complete gross sales stood at simply over 400 billion riyals (about $106 billion), down from 562 billion riyals ($150 billion within the second quarter of 2022.

Aramco is among the largest firms on this planet, and Saudi Arabia is seeking to oil revenues to fund formidable plans to overtake its economic system.

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