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Focus: Aramco more resilient to oil slump than listed rivals - accounts

Reuters  |  LONDON 

By Alex LawlerLONDON (Reuters) - Saudi Aramco is more resilient to oil price slumps than its biggest listed rivals, its 2016 accounts indicate, giving a rare insight into the state energy giant's finances ahead of a proposed flotation.The full-year accounts, not publicly available but seen by Reuters, show Aramco's net income fell by about 21 percent to $13.3 billion in 2016 - when oil prices collapsed to a 12-year low of $27.10 a barrel due to a global glut of crude.By comparison, the net income of Exxon Mobil Corp, the world's largest listed oil company, dropped 51 percent in 2016, while ...

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First Published: Mon, July 09 2018. 15:51 IST
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