International

Saudi Aramco Q2 profits drop 38% on lower prices: statement

Published on : 2023-08-07

Oil firm Saudi Aramco on Monday announced profits of $30.08 billion for the second quarter, a sharp fall from the same period last year when prices surged after Russia invaded Ukraine.

"The decrease mainly reflected the impact of lower crude oil prices and weakening refining and chemicals margins," the largely state-owned company said in a statement published on the Saudi stock exchange.

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