In a release published Sunday, the company said net income plunged to $23.2 billion in the first six months of the year, down by half from $46.9 billion over the same period in 2019.

Saudi Arabia's majority state-owned oil company and the world's largest crude producer also maintained its second-quarter dividend of $18.75 billion, saying it will be paid in the third quarter.

Total free cash flow at the company came in at $21.1 billion for the first half, down from $38 billion the year before.

The financial results for the second quarter reflect the biggest shock to global energy markets in decades.

"Strong headwinds from reduced demand and lower oil prices are reflected in our second quarter results," Aramco President and CEO Amin Nasser said in the release.

Despite continued global economic disruption and challenges facing the energy sector, Aramco declared a dividend of $18.75 billion for the second quarter, compared to $13.4 billion for the second quarter of 2019.  .

Capital expenditure was $6.2 billion in the second quarter and $13.6 billion for the first half of 2020?

Aramco said it expects capital expenditure to be at the lower end of the $25 billion to $30 billion range for 2020, compared to $32.7 billion for 2019.