Saudi Aramco posts drop in profits but sees oil and gas demand recovery in Asia and elsewhere

Sunday, 21 March 2021

The Saudi Arabian Oil Company, Saudi Aramco, reported a 44 percent drop in annual profits, though still earned a net $49 billion in 2020 as it posted record oil and natural gas output even as revenues were affected by lower crude oil prices and sales tumbled because of the economic slump caused by Covid-19.

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