{"id":351063,"date":"2020-05-13T11:06:05","date_gmt":"2020-05-13T05:36:05","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=351063"},"modified":"2020-05-13T11:30:52","modified_gmt":"2020-05-13T06:00:52","slug":"saudi-aramco-q1-net-profit-slides-25-per-cent-as-oil-prices-tumble","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramco-q1-net-profit-slides-25-per-cent-as-oil-prices-tumble\/","title":{"rendered":"Saudi Aramco Q1 net profit slides 25 per cent as oil prices tumble"},"content":{"rendered":"<p>Saudi Arabian state oil giant Aramco on Tuesday reported a 25 per cent fall in first-quarter net profit, missing analyst estimates, but its quarterly dividend was in line with a plan for a $75 billion base payout to shareholders for the year.<\/p>\n<p>Brent crude prices fell 65.6 per cent in the first quarter, before OPEC+ producers agreed to cut oil supply by a record 9.7 million barrel per day starting from May to help shore up plunging prices and curb oversupply.<\/p>\n<p>Net profit fell to 62.48 billion riyals ($16.64 billion) after zakat and tax for the quarter to March 31 from 83.29 billion a year earlier. <\/p>\n<p>Analysts had expected a profit of $17.8 billion, according to the mean estimate from Egyptian investment bank EFG-Hermes, Saudi Arabia&#8217;s Al Rajhi Capital and Dubai-based Arqaam Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabian state oil giant Aramco on Tuesday reported a 25 per cent fall in first-quarter net profit, missing analyst estimates, but its quarterly dividend was in line with a plan for a $75 billion base payout to shareholders for the year. Brent crude prices fell 65.6 per cent in the first quarter, before OPEC+ producers agreed to cut oil supply by a record 9.7 million barrel per day starting from May to help shore up plunging prices and curb oversupply. Net profit fell to 62.48 billion riyals ($16.64 billion) after zakat and tax for the quarter to March 31 [&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],"tags":[],"class_list":["post-351063","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/351063","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=351063"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/351063\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=351063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=351063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=351063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}