Reported 2 months ago
Saudi Aramco's second-quarter profit fell by 3.4% to 109.01 billion riyals ($29.03 billion), attributed to reduced crude output and declining refining margins. Despite the decrease, the earnings surpassed analyst expectations. The company announced dividends of $31.1 billion and indicated a total of $124.2 billion in dividends for 2024. However, lower production and crude prices have posed challenges to Saudi Arabia's finances, which reported a significant deficit for the quarter.
Source: YAHOO