Saudi Aramco's Net Profit Decreased

Saudi Aramco's net profit decreased. The earnings of the world's largest oil company fell 44 percent.

Aramco CEO Amin Nasser made a statement on the company's official website regarding the financial situation in 2020 and the net earnings from oil sales. Stating that the serious drops in global oil prices were reflected in the sales rates in 2020, Nasser underlined that the incredible effect of the new type of coronavirus was felt in the global economy. Reminding that the company promised that the dividend of the company will be 75 billion dollars for the year 2020, Nasser made the following statements: "Aramco managed to make a net $ 49 billion in 2020. During the hardest times of the industry, the company demonstrated strong financial resilience." According to the data shared by the company, it was revealed that its net profit decreased by 44 percent in 2020 due to the net gain of 49 billion dollars instead of the promised 75 billion dollars. It was reported that Saudi Aramco's net profit in 2019 was $ 88 billion.     This article has contributions of Bloomberg HT.