{"id":406288,"date":"2021-03-22T11:19:32","date_gmt":"2021-03-22T05:49:32","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=406288"},"modified":"2021-03-22T12:01:39","modified_gmt":"2021-03-22T06:31:39","slug":"saudi-aramco-to-cut-capital-expenditure-reports-44-4-drop-in-profit-for-2020","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramco-to-cut-capital-expenditure-reports-44-4-drop-in-profit-for-2020\/","title":{"rendered":"Saudi Aramco to cut capital expenditure, reports 44.4% drop in profit for 2020"},"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\u2019s 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],"tags":[],"class_list":["post-406288","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/406288","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=406288"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/406288\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=406288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=406288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=406288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}