Members of the media chat started before the press conference held at the Plaza Convention Center in Dhahran, Saudi Arabia on November 3, 2019.
Hamad I Mohamed | Reuters
Saudi oil producer Aramco reported on Tuesday that net profit fell to $100.62 billion in 2024, below $121.3 billion in 2023.
The company said its base dividend for the fourth quarter of 2024 will be $21.1 billion, but its performance-linked spending is only $2.2 billion. By comparison, the base dividend for the third quarter was $20.3 billion and the performance dividend was $10.8 billion.
Oil prices fell last year as global crude oil production increased and demand slowed, and oil prices fell on the company’s net profit. Average price of global benchmark Brent crude oil futures $80 per barrel in 2024According to the U.S. Energy Information Administration, it is $2 below the 2023 average.
Aramco’s revenue fell to $436.6 billion in 2024, compared with $440.8 billion in the previous year.
This breaking news report is being updated.
