Aramco records net income of 31.9 billion USD

Recent financial results show Saudi Arabian Oil Company (Aramco) recorded a net income of 31.9 billion U.S. dollars in the first quarter of 2023.

The net income decreased nearly 20 percent compared with the same period last year, which stood at 39.5 billion dollars.

The drop was mainly driven by lower crude prices, although partially offset by lower taxes and zakat and a rise in finance and other income.

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