Saudi Aramco profit drops 22 percent on lower prices / Photo: Fayez Nureldine - AFP/File
-
Malinin upstaged as Japan keep pressure on USA in skating team event
-
Vail's golden comets Vonn and Shiffrin inspire those who follow
-
Veteran French politician loses culture post over Epstein links
-
Japan's Kimura wins Olympic snowboard big air gold
-
Arteta backs confident Gyokeres to hit 'highest level'
-
Hojlund the hero as Napoli snatch late win at Genoa
-
England's Arundell 'frustrated' despite hat-trick in Wales romp
-
Lollobrigida skates to first Italian gold of Winter Olympics on her birthday
-
Arundell hat-trick inspires England thrashing of Wales in Six Nations opener
-
Chile's climate summit chief to lead plastic pollution treaty talks
-
Rosenior hails 'unstoppable' Palmer after treble tames Wolves
-
French ex-minister offers resignation from Paris cultural hub over Epstein links
-
New NBA dunk contest champ assured and shooting stars return
-
Shiffrin says will use lessons learnt from Beijing flop at 2026 Games
-
Takaichi tipped for big win as Japan votes
-
Lens return top of Ligue 1 with win over Rennes
-
Shiffrin learning from Beijing lessons ahead of Milan-Cortina bow
-
Demonstrators in Berlin call for fall of Iran's Islamic republic
-
'Free the mountains!": clashes at Milan protest over Winter Olympics
-
Townsend accepts pressure will mount on him after Italy defeat
-
BMW iX3 new style and design
-
Suryakumar's 84 leads India to opening win over USA in T20 World Cup
-
Lollobrigida skates to first Italian gold of Milan-Cortina Games
-
Barca beat Mallorca to extend Liga lead
-
Gyokeres lifts Arsenal nine clear as Man Utd pile pressure on Frank
-
Late Guirassy winner for Dortmund trims Bayern's lead atop Bundesliga
-
'Free the mountains!": protest in Milan over Winter Olympics
-
Gyokeres double helps Arsenal stretch Premier League lead
-
New Skoda Epiq: modern with range
-
Six Nations misery for Townsend as Italy beat sorry Scotland
-
Spain, Portugal face fresh storms, torrential rain
-
Opinions of Zuckerberg hang over social media addiction trial jury selection
-
Over 2,200 IS detainees transferred to Iraq from Syria: Iraqi official
-
Norway's Ruud tops Olympic men's freeski slopestyle qualifying
-
Czech qualifier Bejlek claims first title in Abu Dhabi
-
French duo reach Shanghai, completing year-and-a-half walk
-
Australian snowboarder James eyes elusive Olympic gold
-
Sequins and snow: Eva Adamczykova makes Olympic return
-
Vonn set for Olympic medal bid after successful downhill training
-
Shepherd takes hat-trick as West Indies beat Scotland in T20 World Cup
-
Sausages will sell after thrill-seeker Von Allmen wins Olympic downhill
-
Swiss racer Von Allmen wins first gold of Winter Olympics
-
'Wake up': Mum sparks comeback after scare for freeski star Gu
-
Von Allmen wins men's Olympic downhill gold, first of Games
-
First medals up for grabs at Winter Olympics
-
Afghanistan captain Khan harbours dream of playing in Kabul
-
Lindsey Vonn completes second Winter Olympics downhill training run
-
Freeski star Gu survives major scare in Olympic slopestyle
-
Iran FM looks to more nuclear talks, but warns US
-
Hetmyer's six-hitting steers West Indies to 182-5 against Scotland
NYSE - LSE
Saudi Aramco profit drops 22 percent on lower prices
Saudi Aramco's profit slid 22 percent in the second quarter to 85 billion riyals ($22.67 billion) as a slump in prices hit revenues, the oil giant said on Tuesday.
Aramco, the world's biggest oil exporter and driver of the Saudi economy, has now seen profits decline for 10 straight quarters since record results in late 2022.
"The decrease in revenue was mainly due to lower crude oil prices and lower refined and chemical products prices," Aramco said in its quarterly report.
The Gulf oil major was trading at 23.91 riyals on Tuesday, 12 percent below the 27.35 riyals price of its secondary share offering last year.
Since a high point of nearly $2.4 trillion in 2022, when oil prices soared following Russia's invasion of Ukraine, Aramco has lost more than $800 billion in market value.
Oil prices, currently around $70 a barrel, have remained low despite tensions roiling the Middle East, including the short-lived Israel-Iran war in June.
"Market fundamentals remain strong and we anticipate oil demand in the second half of 2025 to be more than two million barrels per day higher than the first half," said Aramco president and CEO Amin H. Nasser.
A.Seabra--PC
