Aramco Q2 profit down 38% to $30 bln

Dubai — Saudi Arabian state oil giant Aramco on Monday reported a near 38% drop in second-quarter net profit reflecting lower oil prices and thinner margins in refining and chemicals.

Aramco’s net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 billion a year earlier, the company said in a bourse filing, but topped the $29.8 billion expected by 15 analysts in an Aramco-provided poll.