Saudi Aramco Reports 3% Dip in Q2 Profits Due to Lower Crude Oil Production

Benzinga
Benzinga
  • 2 months ago
Saudi Aramco's second-quarter profit dipped 3% year-over-year due to lower crude oil production volumes. Net income for the first half of the year was down from the same period a year ago. Aramco confirmed its second-quarter base dividend and announced an additional performance-linked dividend to be paid in the third quarter. The world's largest oil company expects to declare total dividends of over $120 billion in 2024. Shares of the company were trading slightly higher after the opening of the Saudi stock exchange on Tuesday.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Saudi Aramco's second quarter profit dipped 3% year-over-year due to lower crude oil
00:07production volumes. Net income for the first half of the year was down from the same period
00:11a year ago. Aramco confirmed its second quarter base dividend and announced an additional
00:16performance-linked dividend to be paid in the third quarter. The world's largest oil
00:20company expects to declare total dividends of over $120 billion in 2024. Shares of the
00:26company were trading slightly higher after the opening of the Saudi Stock Exchange on Tuesday.
00:31For all things money, visit Benzinga.com.

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