UPDATE 2-Saudi Aramco to buy Reliance stake, reports 12% earnings slide [Reuters]
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Source: Reuters
Saudi Aramco's first-half net income falls 12% on lower oil prices - Reuters 4 Min Read DUBAI (Reuters) - Top oil producer Saudi Aramco maintained its position as the world’s most profitable company on Monday even as it reported a 12% drop in first-half net income to $46.9 billion due to lower oil prices. By comparison, Apple Inc ( AAPL.O ), the world’s most profitable listed company, made $31.5 billion in the first six months of its financial year. Aramco said it generated total revenues, including other income related to sales, of $163.88 billion in the first half of this year, down from $167.68 billion a year earlier. Aramco, the world’s biggest oil producer, is also taking a 20% stake in the oil to chemicals business of India’s Reliance Industries Ltd ( RELI.NS ), Reliance Chairman Mukesh Ambani said on Monday, in one of the biggest ever foreign investments in India. State-run Aramco disclosed its closely guarded financials for the first time ever earlier this year, revealing
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