That company is the saudio oil giant saudi aramco, and its feeling the effects of lower oil prices, lower than expected demand from china, and thinner Profit Margins for refining oil. Between april and june, the company made a Profit Ofjust over 30 billion, lot of money by anyone s 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 Cor
was a sharp growth in orders, which comes as europe continues to try to make more of its energy from renewable sources. the chief executive said that wrinkles had been found in some rotor blades, which are made of more than 150 layers of glass fibres. the uk based mining giant bhp has won an important legal battle over a dam disaster which has been called the worst in brazil s history. 19 people were killed when the fundao dam burst in 2015 and destroyed hundreds of homes. the court ruling in london means that brazilian iron ore producer vale will have to share responsiblity if the miners lose a $a6 billion compensation lawsuit. the company behind the barbie movie says it s taken more than $1 billion in global ticket sales in its first 17 days. it means greta gerwig has become the first woman to reach the milestone as a solo director. a top warner bros executive said
A civil lawsuit seeking compensation filed by the family of a man killed in a car accident has been dismissed. The family had demanded Dh200,000 compensati..