Low Energy Prices Sting Aramco Profits and Squeeze Saudi Development Plans

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-owned oil giant Aramco reported a $106.25 billion profit in 2024 on Tuesday, down 12% from the prior year as lower energy prices now squeeze the kingdom’s multi-trillion-dollar development plans. Already, Saudi’s de facto ruler Crown Prince Mohammed bin Salman has been digging a straight-line city in … Read more