{"id":351030,"date":"2020-05-13T11:13:00","date_gmt":"2020-05-13T05:43:00","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=351030"},"modified":"2020-05-13T11:13:00","modified_gmt":"2020-05-13T05:43:00","slug":"saudi-aramco-q1-results-profit-dives-says-virus-to-hit-2020-results","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramco-q1-results-profit-dives-says-virus-to-hit-2020-results\/","title":{"rendered":"Saudi Aramco Q1 results: Profit dives, says virus to hit 2020 results"},"content":{"rendered":"<p>Riyadh: Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, saying the coronavirus crisis will dampen demand and full-year earnings.<\/p>\n<p>The world&#8217;s largest listed firm posted a net profit of 62.5 billion riyals ($16.66 billion) in the three months to March, compared to $22.2 billion a year earlier.<\/p>\n<p>The company said the drop in earnings mostly reflected a decline in crude oil prices, as well as shrinking margins in the refining and chemicals businesses.<\/p>\n<p>&#8220;The COVID-19 crisis is unlike anything the world has experienced in recent history and we are adapting to a highly complex and rapidly changing business environment,&#8221; CEO Amin Nasser said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Riyadh: Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, saying the coronavirus crisis will dampen demand and full-year earnings. The world&#8217;s largest listed firm posted a net profit of 62.5 billion riyals ($16.66 billion) in the three months to March, compared to $22.2 billion a year earlier. The company said the drop in earnings mostly reflected a decline in crude oil prices, as well as shrinking margins in the refining and chemicals businesses. &#8220;The COVID-19 crisis is unlike anything the world has experienced in recent history and we [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-351030","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/351030","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=351030"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/351030\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=351030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=351030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=351030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}