{"id":341979,"date":"2020-03-16T10:42:52","date_gmt":"2020-03-16T05:12:52","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=341979"},"modified":"2020-03-16T11:28:11","modified_gmt":"2020-03-16T05:58:11","slug":"saudi-aramco-to-cut-capital-spending-over-coronavirus-2019-profits-plunge","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramco-to-cut-capital-spending-over-coronavirus-2019-profits-plunge\/","title":{"rendered":"Saudi Aramco to cut capital spending over coronavirus; 2019 profits plunge"},"content":{"rendered":"<p>Saudi Aramco on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, and also posted a plunge in profit for last year, missing forecasts in its first earnings announcement as a listed company. <\/p>\n<p>Saudi Arabia&#8217;s decision last year to float shares in its state oil company &#8211; the most profitable company in the world &#8211; was one of the central elements in Crown Prince Mohammed bin Salman&#8217;s program for economic and political reform.<\/p>\n<p>The record-setting IPO was touted as making the world&#8217;s biggest energy exporter more professional and transparent.<\/p>\n<p>The 21% decline in net profit for last year means it fell short of analysts&#8217; forecasts for the period that culminated in the share sale, months before the coronavirus pandemic became a factor for oil prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Aramco on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, and also posted a plunge in profit for last year, missing forecasts in its first earnings announcement as a listed company. Saudi Arabia&#8217;s decision last year to float shares in its state oil company &#8211; the most profitable company in the world &#8211; was one of the central elements in Crown Prince Mohammed bin Salman&#8217;s program for economic and political reform. The record-setting IPO was touted as making the world&#8217;s biggest energy exporter more professional and transparent. The 21% decline in net [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-341979","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=341979"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341979\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=341979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=341979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=341979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}