Aramco, the Saudi state-owned oil giant, has seen its profits fall by 38% to $30bn. It follows a record figure posted by the oil group earlier this year of $161bn. Lower crude oil prices and thinner margins in refining oil have seen profits fall by more than a third compared to the first quarter of 2023. However, the company raised its payout to shareholders in the form of a $30bn dividend.
Saudi state-owned oil giant Aramco sees profits drop – BBC News
