The Clap
Aramco reported a nearly 38% drop in second-quarter net profit due to lower oil prices and thinner margins in refining and chemicals.
What
Despite the decline, it beat analysts’ estimates and increased its dividend with a performance-linked payout.
So What
Other oil majors reported strong earnings in the second quarter of 2022 due to sanctions on Russia and high oil prices.
Now What
Aramco’s CEO expects increased investments in energy projects to secure energy security, with continued growth in Chinese demand and potential acquisitions in the chemicals sector.
