Latest

Oil giant BP returns to profit in second quarter
Oil giant BP returns to profit in second quarter
Business and Economy
by  AFP

British energy group BP on Tuesday posted a net profit for the second quarter, in contrast to weaker results from energy rivals, as lower exceptional charges offset falling oil prices. - Sector woes - By contrast, French rival TotalEnergies and US groups ExxonMobil and Chevron posted heavy falls to their net profit in the second quarter.

Saudi Aramco profit drops for 10th straight quarter
Saudi Aramco profit drops for 10th straight quarter
Business and Economy
by  AFP

Oil giant Saudi Aramco announced its 10th straight drop in quarterly profits on Tuesday as a slump in prices hit revenues, putting more pressure on the key driver of the Saudi economy. "The decrease in revenue was mainly due to lower crude oil prices and lower refined and chemical products prices," Aramco said in its quarterly report.

Saudi Aramco profit drops 22 percent on lower prices
Saudi Aramco profit drops 22 percent on lower prices
Business and Economy
by  AFP

Saudi Aramco's profit slid 22 percent in the second quarter to 85 billion riyals ($22.67 billion) as a slump in prices hit revenues, the oil giant said on Tuesday. The Gulf oil major was trading at 23.91 riyals on Tuesday, 12 percent below the 27.35 riyals price of its secondary share offering last year.