22 Hrs
Source:
الاقتصادية
Saudi Aramco Q2 profits drop 73%
The preliminary financial results for SABIC Saudi Arabia showed a significant decline in performance during the first half of 2026. Revenues dropped by 14.3% to 50.96 billion riyals, and gross profit decreased by 15.9% to 9.48 billion riyals. Operating profit also fell by 27.3% to 2.16 billion riyals, due to market pressures and fluctuations in the petrochemical sector. In the second quarter, the company experienced a year-on-year decline in revenue of 17.9% to 24.81 billion riyals, with a substantial 73.4% drop in operating profits to 710 million riyals, despite the net losses narrowing by 84.5% to 820 million riyals for the first half. These results reflect the impact of challenges related to supply chain issues and rising costs, alongside weak global demand for petrochemical products, although higher prices for some products helped support the company's revenues.
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