https://sputnikglobe.com/20240806/saudi-aramcos-h1-net-income-down-105-to-56bln-1119656471.html

Saudi Aramco’s H1 Net Income Down 10.5% to $56Bln

Saudi Aramco’s H1 Net Income Down 10.5% to $56Bln

Sputnik International

Saudi Arabian state-owned oil and gas giant Aramco's net income for the first half of 2024 dropped by more than 10% year-on-year to $56.34 billion, according to the company's financial report released on Tuesday.

2024-08-06T09:25+0000

2024-08-06T09:25+0000

2024-08-06T09:25+0000

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"Net income: ... $56.3 billion (H1). Free cash flow: … $41.7 billion (H1)," the company said in the report. The current level of free cash flow is down 22.8% from the same period last year, while capital expenditures have increased 19.5% to $22.96 billion, the report said. In March, the company said that its net income dropped by 25% in 2023, to $121.3 billion, which is almost $40 billion less than what the company generated in 2022.

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