Aramco's Half-Year Profits Decline Amid Lower Oil Sales

Saudi oil giant reports $56.3 billion in profits, citing economic concerns and reduced crude volumes.

Aramco's revenue for the half-year rose slightly to $220.7 billion despite lower profits.
The decline in profits was attributed to weakening refining margins and lower crude oil sales.
Aramco announced dividends of $31.1 billion for the second quarter, with a total annual target over $124 billion.
Global economic uncertainties and fluctuating oil prices have impacted Aramco's financial performance.
Saudi Arabia's plans for economic diversification face challenges due to lower oil revenues.