Aramco's Q1 net profit tumbles 25%
"The COVID-19 crisis is not like something the world has skilled in recent history and we are adapting to a highly complex and rapidly converting business environment," Aramco (ARMCO) CEO Amin Nasser said as the state-owned oil giant mentioned earnings.
First-quarter internet income slumped 25% Y/Y to 62.5B riyals ($16.6B) for the duration of the first three months of the yr amid a collapse in oil prices.
It's also reducing spending: Aramco expects capex between $25B-$30B this 12 months, down from $32.8B in 2019.
Crude oil futures fall back
Oil prices are lower after U.S. Inventory facts confirmed soft gas demand, regardless of the hopes for a Memorial Day weekend rush of motorist activity.
Apple to start reopening stores in Japan this week
Apple (NASDAQ:AAPL) will re-open its two stores in two places at Fukuoka and Nagoya Sakae in Japan on May 27, according to the company’s retail website.READ NEWS