{"id":367036,"date":"2020-08-10T11:12:29","date_gmt":"2020-08-10T05:42:29","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=367036"},"modified":"2020-08-10T11:53:08","modified_gmt":"2020-08-10T06:23:08","slug":"saudi-aramco-half-year-profits-plunge-50-due-to-covid-19-pandemic-impact","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramco-half-year-profits-plunge-50-due-to-covid-19-pandemic-impact\/","title":{"rendered":"Saudi Aramco half-year profits plunge 50% due to Covid-19 pandemic impact"},"content":{"rendered":"<p>Saudi Aramco&#8217;s net income plunged by 50% in the first half of the year, according to figures published on Sunday, offering a revealing glimpse into the impact of the coronavirus pandemic on one of the world&#8217;s biggest oil producers. <\/p>\n<p>Profits for the first six months of the year plunged to $23.2 billion, half of last year&#8217;s $46.9 billion for the same time period. <\/p>\n<p>The results were announced as Aramco&#8217;s second quarter earnings dipped to $6.6 billion compared to $24.7 billion during the same time last year, reflecting a staggering 73% drop. <\/p>\n<p>The majority state-owned company&#8217;s financial health is crucial to Saudi Arabia&#8217;s stability. Despite massive efforts by Saudi Crown Prince Mohammed bin Salman to diversify the economy, Saudi Arabia still depends heavily on oil exports to fuel government spending.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Aramco&#8217;s net income plunged by 50% in the first half of the year, according to figures published on Sunday, offering a revealing glimpse into the impact of the coronavirus pandemic on one of the world&#8217;s biggest oil producers. Profits for the first six months of the year plunged to $23.2 billion, half of last year&#8217;s $46.9 billion for the same time period. The results were announced as Aramco&#8217;s second quarter earnings dipped to $6.6 billion compared to $24.7 billion during the same time last year, reflecting a staggering 73% drop. The majority state-owned company&#8217;s financial health is crucial to [&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-367036","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\/367036","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=367036"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/367036\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=367036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=367036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=367036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}