In Q1 2020, Saudi Aramco lost 25% of its profit

    Saudi Aramco
    Saudi Aramco

    State-owned oil company Saudi Aramco earned $ 16.64 billion in the first three months of this year, which is 25.64 billion, which is 25 % less than the same period a year earlier.

    The reason for the fall in profits is called a decrease in demand due to coronavirus, which led to the collapse of the price of black gold. At the same time, real data turned out to be worse than predicted ($ 17.8 billion).

    Recall that Saudi Aramco is actively fighting for European and Asian markets, offering oil at a discount of 10% or more, with a delay of payment for 90 days.

    See also  US House of Representatives approves $ 3 trillion in economic support

    Related News

    Leave a Reply

    Your email address will not be published.

    Go up

    We use cookies to understand how you use our website and to improve your experience. This includes personalizing content and advertising. By continuing to use our site, you accept our use of cookies.