Saudi Aramco’s net income drops to $88.2 billion in 2019

By The Associated Press

Posted March 15, 2020 3:20 am.

Last Updated March 15, 2020 3:26 am.

This article is more than 5 years old.

DUBAI, United Arab Emirates — Saudi Aramco, the state-run oil giant, says its net income dropped by $22.9 billion to $88.2 billion in 2019.

The oil firm formally known as the Saudi Arabian Oil Co. made the announcement in yearly results announced on Sunday.

The results come as Aramco now trades a sliver of its worth on Riyadh’s Tadawul stock exchange.

It marks a new turn for the oil company, which previously remained a private company that didn’t need to announce results.

The Associated Press

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