Riyadh: Saudi Aramco’s 2019 net profit has fallen drastically. The energy giant said on Sunday that its net profit came down by 20.6 percent last year.
The company said in a statement that its profit has decreased due to lower crude oil prices and lower production levels. In a communication sent to the Saudi stock market, the company said its net profit last year was $ 88.2 billion, up from $ 111.1 billion in 2018. The company said that the main reason for the decrease in profits is the fall in crude oil prices and a decrease in production.
