Between april and june, the company made a Profit Ofjust over 30 billion, a lot of money by anyones metric, but significantly down from more than the 48 billion it made in the same period a year ago. The main reason is, as you can see here, that oil prices during the period were at the lowest point in the last year, as the boost they got from russias invasion of ukraine wore off. And last week, in an effort to keep them that way, saudi arabia said it would only produce nine Million Barrels a day. That extended Production Cuts by the 0pec group of big oil producers, who profit more from a higher price. When it comes to saudi aramco, those higher prices mean higher Dividend Payments for shareholders, and its boosted those to nearly 30 billion in the current period. So i put it to our middle east Business Correspondent Sameer Hashmi that even with falling profits, the biggest winner is the saudi government, which is aramcos biggest shareholder. The saudi government owns around 90 of the c
its unions, setting over the last several months it has been trying to negotiate a new deal and during that time it has seen its business for sharply as customers moved to other shippers. for its part, the union has turned round and said this was the company that was mismanaged for years, don t try and pin it on the workers. whoever is to blame, here we find it ourselves with this company filing for bankruptcy. it is a wor in: company filing for bankruptcy. it is a worrying day for the 30,000 staff who are not out of a job. we have had this massive growth of online shopping right across the world and the logic would be that the logistics business would be going to keep pace with that. did it for where other people were able to grow in that area and it couldn t compete? it in that area and it couldn t compete? in that area and it couldn t comete? .,, ., ., ~ , in that area and it couldn t comete? ., .,~ , , compete? it was a weaker player but there were bigger compete? it was a weaker