Sun 21 March 2021:
Saudi Arabia’s state oil giant, Aramco, said Sunday that its net income slid to $49 billion in 2020 amid the COVID-19 pandemic.
The net profit in 2019 was estimated at $88 billion.
“Aramco achieved a net income of $49 billion in 2020,” Saudi Aramco said in a press release.
“The Company continues to assess its capital expenditure and efficiency programs, and expects capital expenditure for 2021 to be around $35 billion, significantly lower than the previous guidance of $40-$45 billion,” it added.
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