https://sputnikglobe.com/20210321/saudi-aramcos-2020-net-income-drops-to-49bln-amid-pandemic-company-says-1082407767.html
Saudi Aramco's 2020 Net Income Drops to $49Bln Amid Pandemic, Company Says
Saudi Aramco's 2020 Net Income Drops to $49Bln Amid Pandemic, Company Says
Sputnik International
MOSCOW (Sputnik) - Saudi Arabia's state oil giant, Aramco, said Sunday that its net income slid to $49 billion in 2020 amid the COVID-19 pandemic. 21.03.2021, Sputnik International
2021-03-21T07:18+0000
2021-03-21T07:18+0000
2021-03-21T07:18+0000
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Saudi Aramco's 2020 Net Income Drops to $49Bln Amid Pandemic, Company Says
MOSCOW (Sputnik) - Saudi Arabia's state oil giant, Aramco, said Sunday that its net income slid to $49 billion in 2020 amid the COVID-19 pandemic.
"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.
The net profit in 2019 was estimated at $88 billion.
