Saudi Aramco, recently dethroned by Apple as the world's most valuable listed company, posts a net profit of $6.6 billion in the 2nd quarter of 2020.
By contrast, Aramco's results reflected its"financial resilience," Nasser said, as the company presses ahead with a plan to pay $75 billion in dividends this year.
That is significantly lower than its expenditure of $32.8 billion in 2019, according to Energy Intelligence. A sharp drop in oil income is expected to hinder Crown Prince Mohammed bin Salman's ambitious plans to overhaul the kingdom's energy-reliant economy. Aramco's profits were also impacted by the losses posted by the Saudi Basic Industries Corporation , the petrochemicals giant it acquired for $69 billion in a deal completed this year.
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