Saudi Arabia Aramco’s profits down by 7%

Saudi Aramco’s profits have fallen by seven per cent in the first nine months of 2019, the company reported yesterday.

In September, Aramco achieved $68.2 billion of profit, up from $83.3 billion in the same period in 2018.

The oil company’s announcement came following its decision on Sunday to go public and offer shares in the stock market after approval by the Saudi Crown Prince Mohammed Bin Salman.

Aramco is the world’s largest oil and gas company by revenue with a net income of $111 billion in 2018.

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