The reason for this is the decrease in the demand for oil due to the corona lockdown imposed around the world.
The company has lost 45 per cent in the last year compared to the revenue it earned in the year 2019.
However, Saudi Aramco, one of the largest companies in the world, has made a profit of $ 49 billion in spite of this.
Along with this, ‘Saudi Aramco’ has also said that the shareholders of the company will still be paid dividend (dividend).
This amount will be equal to $ 75 billion.
Biggest share holder
The largest shareholder of Aramco is the government of Saudi Arabia. The company has said in its statement that this was one of the most challenging years for the company in recent history.
All these had an impact on the demand for oil and energy and the price of oil had seen a decline of up to five times.
Large companies such as Royal Dutch Shell and British Petroleum, associated with the oil and gas business, have reported a decrease in profits.
America’s largest energy company Exxon Mobil suffered a loss in business for the first time last year in Corona lockdown.
The largest shareholder of Aramco is the government of Saudi Arabia. The company has said in its statement that this was one of the most challenging years for the company in recent history.
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