Saudi Aramco's Q2 Revenue Dips Amid Lower Oil Prices
In the second quarter, Saudi Aramco experienced a decline in revenue due to lower crude oil prices. The company also reported decreased prices in its refined and chemical products segments. Despite the revenue dip, its capital expenditure stood at SAR 46.16 billion, reflecting continued investment in its operations.
Saudi Aramco reported a drop in revenue during the second quarter, a result of declining crude oil prices. The lower prices also affected the company's refined and chemical product segments.
Despite these challenges, Saudi Aramco maintained a solid capital expenditure level of SAR 46.16 billion, underscoring its commitment to strategic investments.
The results highlight the challenges faced by oil companies amid fluctuating global oil prices and the strategic steps being taken to navigate these hurdles.
(With inputs from agencies.)
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