Saudi Aramco to cut capital spending in 2020, posts drop in 2019 profit

1:20am PDT - March 15th, 2020    pi - Reuters

Saudi Aramco <2222.SE> on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, as it posted a 21% decline in 2019 net profit due to a drop in oil prices and production, its first earnings announcement as a listed company.