Declines at Aramco

During the first quarter of the current year, Saudi Aramco experienced a 14% decline in profits compared to last year, reaching SAR 102.27 billion, which was below average analyst estimates.

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This decline in profits was due to a 4% drop in revenues, which the company attributed to reduced quantities of crude oil sold.

Despite this, crude oil prices saw an increase during the same period, which partially mitigated the decline. Additionally, profits were impacted by lower profit margins in refining and chemicals activities, as well as a decrease in financing income.

The company announced dividend distributions to shareholders totaling SAR 116.5 billion (USD 31 billion), including SAR 76.1 billion as basic dividends for the first quarter and SAR 40.4 billion as performance-linked dividends.

Declines at Aramco

Declines at Aramco

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