The oil giant Saudi Aramco has announced that its profits fell sharply last year as lockdowns around the world curbed demand for oil. Earnings in 2020 fell by nearly 45% compared with 2019. Saudi Aramco, one of the largest companies in the world, still made a profit of $49bn (£35bn) however and said shareholders would still receive dividends totalling $75bn. Aramco’s largest shareholder is the Saudi government. The firm said it had been “one of the most challenging years in recent history”. Shift to green energy ‘could cost oil states $13tn’ Covid sends US oil giant Exxon into $22bn loss Watch: The superpower and the Saudis Over the course of last year the price of oil fell by a fifth as countries halted travel, closed down industries and restricted many day-to-day activities, reducing demand for energy and fuel. Other big oil and gas firms such as Royal […]