The company’s financial results in the second quarter of 2020 showed, net profits fell 73.4% to 24.62 billion riyals, compared to 92.59 billion riyals for the second quarter of last year.
The decline in Aramco’s net profit came in the second quarter of 2020; As a result of lower crude oil prices, and lower profit margins in the refining and chemical business.
Aramco had recorded a net profit of 24.62 billion riyals during the second quarter, and announced the distribution of 70.32 billion riyals to shareholders for the same period.
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