Riyadh - Mubasher: Saudi Aramco’s net income declined to $46.9 billion during the first six months of 2019, compared to $53 billion in the year-ago period, according to a company statement released on Monday.

Earnings before interest and tax went down to $92.5 billion in H1-19 versus $101.3 billion the year before.

“Despite lower oil prices during the first half of 2019, we continued to deliver solid earnings and strong free cash flow underpinned by our consistent operational performance, cost management and fiscal discipline,” president & CEO of Saudi Aramco, Amin H. Nasser, commented.

In the first half of the year, Saudi Aramco’s total hydrocarbon production reached 13.2 million barrels of oil equivalent per day, the top official revealed.

Nasser noted that his company will “maintain a prudent and flexible balance sheet", adding that its "financials are strong" and that it "will continue to invest for future growth.”

In 2018, state-run Saudi Aramco reported a 34.7% year-on-year increase in its, registering $355.94 billion.