Aramco reports $30bn second quarter profits – down 40% from last year

Saudi Arabia’s state-run oil giant Aramco brought in 30 billion dollars in revenues in the second quarter of 2023 (AP)

Saudi Arabia’s state-run oil giant Aramco made $30bn (€27.2bn) in profit in the second quarter – a near 40% decline from the same period the previous year, which it attributed to lower crude oil prices.

Total sales stood at just over 400 billion riyals (about $106bn, or €96 billion), down from 562bn riyals ($150bn, or €135bn) in the second quarter of 2022.