World's largest oil firm saw collapsed earnings in 2020

Oil giant Saudi Aramco is regarded as the world's most profitable company, and despite its new annual report showing almost halved earnings, the outfit keeps its title.

Photo: Maxim Shemetov/REUTERS / X90156

Oil supermajor Saudi Aramco, the world's most profitable and second-most valuable company, saw its bottom line plummet during 2020, according to a freshly published financial report cited by CNBC.

The Saudi Arabian group finished the fiscal year with a result of USD 49 billion. The comparable figure of the prior year came to USD 88 billion.

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