Saudi Arabia’s state-owned oil giant Aramco posted first-quarter profits of $26 billion on Sunday, down 4.6% from the prior year.
Aramco, formally known as the Saudi Arabian Oil Co., had revenues of $108.1 billion over the quarter, the company reported in a filing on Riyadh’s Tadawul stock exchange. The company saw $107.2 billion in revenues and profits of $27.2 billion the same quarter last year.
