“Oil giant Saudi Aramco’s second-quarter profit dips 3% on lower crude production volumes”
August 12, 2024
“Net income from the first half of the financial year was $56.3 billion, down from $62 billion during the same period last year.
Aramco reaffirmed its second-quarter base dividend of $20.3 billion, and declared a performance-linked dividend of $10.8 billion to be paid in the third quarter.
The kingdom’s gross domestic product growth has contracted for four consecutive quarters, which economists say is largely due to the oil production cuts.”