Aramco earned a profit of $ 121 billion last year
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Aramco has given this information to Riyadh’s Tadawul Stock Exchange. The company said, “The decline in profits is due to the decline in crude oil prices and decline in sales. Apart from this, the refining margin has also decreased.
Dubai. Saudi Arabia’s petroleum giant Aramco has earned a profit of US $ 121 billion last year i.e. in 2023. This is less than the record profits of 2022. The reason for this is the fall in energy prices. Aramco has given this information to Riyadh’s Tadawul Stock Exchange. The company said, “The decline in profits is due to the decline in crude oil prices and decline in sales. Apart from this, the refining margin has also decreased.
The company will hold a conference call on Monday to discuss its financial results. Last year the company’s revenue declined to $440 billion. In 2022 it was $535 billion. “Despite economic headwinds, cash flow and profits remain at high levels,” Aramco Chief Executive Officer (CEO) Amin H Nasser said in a statement.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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