Saudi Aramko reveals profits

Saudi Aramko, the world's largest exporter of oil, said on Monday it made a net profit of $ 46.9 billion in the first half of this year, down from $ 53.02 billion a year ago.

Aramco said total revenue was $ 163.88 billion in the first half of this year, down from $ 167.68 billion a year earlier.

The Saudi company attributes the decline in profits to lower oil prices and lower production.

In comparison, Apple made $ 31.5 billion in the first six months of its fiscal year.

Source: Reuters