Saudi Aramco reports nearly 21% drop in 2019 profit

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Saudi Aramco reports nearly 21% drop in 2019 profit
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These are the first annual results after its historical US$29.4 bil initial public offering and listing. FMTNews SaudiAramco

Saudi Arabia’s state-owned oil company Aramco, stock market officials during the debut of its IPO in December.

The energy giant posted net profits of US$88.2 billion last year compared to US$111.1 billion in 2018, Monday’s statement said. “2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances – some planned and some not – the world was offered unprecedented insight into Saudi Aramco’s agility and resilience,” CEO Amin Nasser said.

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