.jpg)
Saudi Aramco (2222.SE) on Tuesday reported a 23% fall in third-quarter net profit on the back of lower oil prices and volumes sold, marginally beating analyst estimates and helping prop up its shares in early trade.
Net profit fell to $32.6 billion for the quarter to Sept. 30, above the $31.8 billion expected by 12 analysts in a company-provided forecast.
The Saudi oil producer said lower oil prices and volumes were partially offset by a reduction in production royalties.
The group's shares, up about 15% this year, pared earlier gains to inch up 0.3% to 33.55 riyals by 1000 GMT.
Chevron (CVX.N) and Exxon Mobil (XOM.N) last month reported sharp year-on-year falls in third-quarter profit as energy prices cooled.
No comments:
Post a Comment