Saudi oil giant Aramco reported half-year profits Tuesday of USD 56.3 billion, down from the year before due to weakening volumes sold amid worries about the global economy.
The decrease was primarily a result of lower crude oil volumes sold, weakening refining margins and lower finance and other income, Aramco said in a filing on Riyadh's Tadawul stock exchange.
This was partially offset by higher crude oil prices and lower production royalties compared to the same period last year and lower income taxes and zakat, or Islamic charitable contributions.
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