Saudi Oil Producer Aramco Expects Lower 2025 Dividends as Profits Decline in 2024

Saudi state oil producer Aramco reported declining net profit for 2024 and expects lower total dividends in 2025. Aramco reduced its total payout for the fourth quarter, increasing its base dividend while lowering its performance-linked payout. The company's performance-linked dividend dropped sharply compared to the previous quarter. Aramco's net profit declined due to lower oil prices, increased global crude production, and slowing demand. The company's realized oil price fell compared to the previous year. Aramco CEO Amin Nasser pointed to investments in downstream production and gas as key drivers of future strength and revenue growth.