About: http://data.cimple.eu/news-article/e3357c6b3194a6a54e4d1023ced68d39edf3c998d665d6f6c8b9776a

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/e3357c6b3194a6a54e4d1023ced68d39edf3c998d665d6f6c8b9776a Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, saying the coronavirus crisis will dampen demand and full-year earnings. The world's largest listed firm posted a net profit of 62.5 billion riyals ($16.66 billion) in the three months to March, compared to $22.2 billion a year earlier. The company said the drop in earnings mostly reflected a decline in crude oil prices, as well as shrinking margins in the refining and chemicals businesses. "The COVID-19 crisis is unlike anything the world has experienced in recent history and we are adapting to a highly complex and rapidly changing business environment," CEO Amin Nasser said. The energy behemoth said that a steep decline in global demand for energy caused by the coronavirus pandemic would weigh on its full-year results. "Longer term we remain confident that demand for energy will rebound as global economies recover," said Nasser, adding that the company plans to continue to reduce capital spending. Aramco was listed on the Saudi Tadawul market in December following a historic $29.4 billion initial public offering -- the world's largest -- but since then has faced a torrid environment. Last year it reported a 20.6 percent decline in its annual net profit to $88.2 billion due to low oil prices and production levels. Oil prices slumped to nearly two-decade lows in March, losing almost two-thirds of their value due to weak demand resulting from the impact of the coronavirus pandemic. Prices plummeted further in April amid a price war between Russia and Saudi Arabia as the major producers scrambled to secure market share. Riyadh's production soared to a record 12.3 million, pushing stockpiles to unsustainably high levels. bur-oh/sls/fz
schema:headline	Saudi Aramco Q1 profit dives, says virus to hit 2020 results
schema:mentions	Gamal Abdel Nasser Riyadh Initial public offering World energy consumption Saudi Aramco Saudi Arabia Chief executive officer Russia Pandemic Virus Coronavirus Severe acute respiratory syndrome coronavirus 2 Tadawul Torrid (clothing retailer) Price of oil Price war
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-12 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	65 (xsd:integer)

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 5 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software