Aramco Profit Down $4.6% to $26 Billion
Storage tanks in a Saudi Aramco oilfield. (Simon Dawson/Bloomberg News) DUBAI, United Arab Emirates — Saudi Arabia’s state-owned oil giant Aramco posted first-quarter profit of $26 billion on May 11, down 4.6% from the prior year as falling global oil prices undermine the kingdom’s multitrillion-dollar development plans. Aramco, formally known as the Saudi Arabian Oil ...more