{"id":342245,"date":"2020-03-17T12:18:16","date_gmt":"2020-03-17T06:48:16","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=342245"},"modified":"2020-03-17T12:53:22","modified_gmt":"2020-03-17T07:23:22","slug":"saudi-aramco-reports-20-6-drop-in-2019-profit","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramco-reports-20-6-drop-in-2019-profit\/","title":{"rendered":"Saudi Aramco reports 20.6% drop in 2019 profit"},"content":{"rendered":"<p>Saudi Aramco on Sunday reported a 20.6 per cent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement.<\/p>\n<p>These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi Tadawul market last December.<\/p>\n<p>Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, Monday\u2019s statement said.<\/p>\n<p>\u201cThe decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins,\u201d it said.<\/p>\n<p>The company also made $1.6 billion of impairment provisions for losses associated with Sadara Chemical Company, an Aramco subsidiary.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Aramco on Sunday reported a 20.6 per cent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement. These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi Tadawul market last December. Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, Monday\u2019s statement said. \u201cThe decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins,\u201d it said. [&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":[130,211,144],"tags":[],"class_list":["post-342245","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342245","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=342245"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342245\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=342245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=342245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=342245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}