Saudi Aramco’s H1 2019 net income slips to $46.9 bn
Saudi state-owned energy giant Aramco said its first half net income for 2019 had slipped to $46.9 billion, a first such disclosure for the secretive company ahead of its debut earnings call.
"The company's net income was $46.9 billion for the first half (of) 2019, compared to $53.0 billion for the same period last year," the company said in a statement.
The fall in income, owing to lower oil prices, comes amid renewed speculation the company was preparing for its much-delayed overseas stock listing.
"Despite lower oil prices during the first half of 2019, we continued to deliver solid earnings and strong free cash flow," Aramco CEO Amin Nasser was quoted as saying in the statement.
It is the first time the company has published half-year financial results and comes after Aram...