Saudi Arabia’s state-owned oil company Aramco today announced a decrease in revenue while still turning a large profit in the first quarter of 2020.
Aramco had a net income of $16.7 billion in the first three months of 2020 and paid dividends of $18.75 billion to its shareholders. Aramco is mostly owned by the Saudi state, but 7% is listed on the Saudi stock exchange. The earnings were down 25% from the same period last year, The Associated Press reported.
