MOSCOW (Pakistan Point News / Sputnik - 07th August, 2023) Saudi Arabia's state-owned oil and gas giant Aramco has seen a nearly 30% decrease in its net income in the first half of the year to $61.961 billion compared to the same period of 2022, according to the company's financial report released on Monday.
"The decrease was primarily a result of lower crude oil prices and weakening refining and chemicals margins. This was partially offset by a decrease in production royalties, largely due to lower average effective royalty rate and lower crude oil prices, and higher finance and other income," the report read.
