{"id":406139,"date":"2021-03-22T09:10:21","date_gmt":"2021-03-22T03:40:21","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=406139"},"modified":"2021-03-22T09:53:34","modified_gmt":"2021-03-22T04:23:34","slug":"saudi-aramco-2020-profits-slump-on-lower-crude-prices","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramco-2020-profits-slump-on-lower-crude-prices\/","title":{"rendered":"Saudi Aramco 2020 profits slump on lower crude prices"},"content":{"rendered":"<p>Energy giant Saudi Aramco on Sunday posted a 44.4 per cent slump in 2020 net profit due to lower crude prices, as the coronavirus pandemic weighed heavily on global demand. <\/p>\n<p>Aramco, Saudi Arabia&#8217;s cash cow, has revealed consecutive falls in profits since it began disclosing earnings in 2019. That has piled pressure on government finances as Riyadh pursues multi-billion dollar projects to diversify the oil-reliant economy.<\/p>\n<p>&#8220;Aramco achieved a net income of $49 billion in 2020,&#8221; the company said in a statement &#8212; down from $88.2 billion in 2019. <\/p>\n<p>Saudi Arabia, the world&#8217;s biggest crude exporter, was hammered last year by the double whammy of low prices and sharp cuts in production.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Energy giant Saudi Aramco on Sunday posted a 44.4 per cent slump in 2020 net profit due to lower crude prices, as the coronavirus pandemic weighed heavily on global demand. Aramco, Saudi Arabia&#8217;s cash cow, has revealed consecutive falls in profits since it began disclosing earnings in 2019. That has piled pressure on government finances as Riyadh pursues multi-billion dollar projects to diversify the oil-reliant economy. &#8220;Aramco achieved a net income of $49 billion in 2020,&#8221; the company said in a statement &#8212; down from $88.2 billion in 2019. Saudi Arabia, the world&#8217;s biggest crude exporter, was hammered last year [&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":[146,130,177],"tags":[],"class_list":["post-406139","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/406139","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=406139"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/406139\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=406139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=406139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=406139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}