Saudi Arabian Oil : Aramco to cut capital expenditure, reports 44.4% drop in profit for 2020

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By Gomez in Business
Updated 3 years ago

DUBAI (Reuters) - Saudi Arabian state oil giant Aramco said on Sunday it expects to cut capital expenditure after it reported a 44.4% slump in 2020 net profit, hit by lower crude oil prices and sales as the coronavirus pandemic depressed demand. The company lowered its guidance for spending to...

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