Oil giant Aramco reports profit decline due to falling oil prices.
Saudi Aramco's profit decline due to falling oil prices
The world's largest oil company, Saudi Aramco, has experienced a decline in net profit in the first quarter due to falling oil prices. This creates additional pressure on the finances of the oil exporter. The company's net profit decreased by 4.6% to 97.5 billion riyals (26 billion dollars) for the quarter, Saudi Aramco reported.
Operating profit fell by 5.3%, but exceeded analysts' expectations. The company's dividends have also decreased, and amid this pressure is increasing on Aramco's financial balance. The decline in oil prices could harm not only the company itself but also the Saudi government.
As a result of the dividend cuts, pressure on the Saudi budget is only increasing. Even efforts aimed at modernizing the economy, spearheaded by Crown Prince Mohammed bin Salman, are leading to an increase in the kingdom's deficit and debt levels. Brent crude contracts are trading at low levels, complicating Saudi Arabia's financial situation.
Read also
- Sunflower has become trendy — how much does a ton of seeds cost
- China has started a new way to extract uranium - what you need to know
- Data Update at Oschadbank - Who and When Needs to Go Through It
- Sale of Property Shares - What Co-Owners Should Know
- How prices for apartments in Odesa grew in 2025 - the cost near the sea
- Plus 200% to the price — which products have increased the most
