Saudi Aramco CEO says oil giant can still meet dividend expectations as crown prince prioritizes investments

The chief executive of the world’s biggest oil company on Wednesday said he believes the firm will still be able to meet dividend payout expectations after Saudi Arabia’s government announced plans to prioritize investments. Saudi Arabia’s Crown Prince Mohammed bin Salman on Tuesday said that state-backed oil giant Saudi Aramco and petrochemical firm SABIC would… Continue reading Saudi Aramco CEO says oil giant can still meet dividend expectations as crown prince prioritizes investments

Saudi Oil Giant Aramco Reports 44% Profit Slump In 2020 Amid Coronavirus Pandemic

Amin Nasser, president and chief executive officer of Saudi Aramco, speaks during the fourth edition of the Future Investment Initiative (FII) conference at the capital Riyadh's Ritz-Carlton hotel on January 27, 2021. - Saudi Arabia opened a two-day Davos-style investment forum, with dozens of global policy makers and business tycoons lined up to speak at the largely virtual event amid the coronavirus pandemic. Only 200 of around 8,000 registered delegates attended in-person, while around 100 speakers are set to participate virtually with 50 present physically. Previous summits drew thousands of Wall Street titans and global policymakers. (Photo by FAYEZ NURELDINE / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Saudi Arabia’s state-backed oil giant Aramco saw its profit tumble by 44% last year, as coronavirus pandemic restrictions slashed fuel demand around the globe. Aramco, the world’s largest oil company, reported earnings of $49 billion in 2020, down from $88.2 billion in the year before. CEO Amin Nasser described last year as “one of the… Continue reading Saudi Oil Giant Aramco Reports 44% Profit Slump In 2020 Amid Coronavirus Pandemic

Saudi Aramco profit slumps 44% after Covid-battered year, but maintains dividend

A worker at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field. Oil giant Saudi Aramco reported a 44% slump in full-year 2020 results, but maintained its $75 billion dollar dividend payout, with CEO Amin Nasser describing the last twelve months as one of… Continue reading Saudi Aramco profit slumps 44% after Covid-battered year, but maintains dividend

Saudi Aramco’s profit plunges, sees signs of oil market recovery

State oil giant Saudi Aramco’s profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world’s biggest oil exporter. But the company stuck with plans to pay $75 billion in dividends this year and CEO Amin Nasser said… Continue reading Saudi Aramco’s profit plunges, sees signs of oil market recovery