{"id":406214,"date":"2021-03-22T10:10:17","date_gmt":"2021-03-22T04:40:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=406214"},"modified":"2021-03-22T11:04:47","modified_gmt":"2021-03-22T05:34:47","slug":"saudi-aramco-2020-net-profit-slumps-44-4-as-covid-19-bites","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramco-2020-net-profit-slumps-44-4-as-covid-19-bites\/","title":{"rendered":"Saudi Aramco 2020 net profit slumps 44.4% as COVID-19 bites"},"content":{"rendered":"<p>Saudi Arabian state oil giant Aramco said on Sunday it expects to cut capital expenditure after it reported a 44.4% slump in 2020 net profit, hit by lower crude oil prices and sales as the coronavirus pandemic depressed demand.<\/p>\n<p>The company lowered its guidance for spending to around $35 billion from a range of $40 billion to $45 billion previously, according to a disclosure to the Tadawul bourse.<\/p>\n<p>Net profit fell to 183.76 billion riyals ($49.00 billion) for the year that ended December 31, from 330.69 billion riyals a year earlier.<\/p>\n<p>Analysts had expected a net profit of 186.1 billion riyals in 2020, according to the mean estimate of analysts in Refinitiv&#8217;s Eikon.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabian state oil giant Aramco said on Sunday it expects to cut capital expenditure after it reported a 44.4% slump in 2020 net profit, hit by lower crude oil prices and sales as the coronavirus pandemic depressed demand. The company lowered its guidance for spending to around $35 billion from a range of $40 billion to $45 billion previously, according to a disclosure to the Tadawul bourse. Net profit fell to 183.76 billion riyals ($49.00 billion) for the year that ended December 31, from 330.69 billion riyals a year earlier. Analysts had expected a net profit of 186.1 billion [&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":[130,191,136],"tags":[],"class_list":["post-406214","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\/406214","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=406214"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/406214\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=406214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=406214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=406214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}