10 Hrs
Source:
الاقتصادية
Saudi Petroleum profits fall 46%
Nass Petroleum Company announced its financial results for the first half of 2026, recording a 46% decline in net profit to reach 1.56 million riyals, down from 2.9 million riyals in the same period of 2025. Revenues also decreased by 22%, totaling 30.179 million riyals, due to lower sales volumes and the impact of regional geopolitical developments on the market. Nonetheless, shareholders' equity increased to 61.626 million riyals, and earnings per share rose to 0.52 riyals. Meanwhile, the company's stock declined by 19.35% since the beginning of 2026, reaching 30.50 riyals at the end of August, influenced by financial performance and market volatility.
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