Aramco facilities have been the target of several attacks in the last few years © Getty Images
Aramco facilities have been the target of several attacks in the last few years © Getty Images

Saudi Aramco cuts spending as profits slump

23 March 2021

Saudi Aramco’s profits fell by 44% in 2020 after the Covid-19 pandemic led to a tumultuous year for the oil sector. 

The oil giant said its revenues in 2020 had been impacted by “lower crude oil prices and volumes sold, and weakened refining and chemicals margins”.

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