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 Aramco’s second-quarter revenue fell on Tuesday, citing prices of crude oil and refined chemical products were only partially offset by higher trading volumes.
The world’s largest oil company announced adjusted net revenue of Saudi riyals ($24.5 billion) in the three months to the end of June. The results are compared with adjusted net income of $23.7 billion, according to analyst surveys provided by the company.
In the same period last year, revenue in the second quarter fell from Saudi 42.71 billion to Saudi 37.83 billion.
“The market fundamentals remain strong, and we expect oil demand to be 2 million barrels per day in the second half of 2025 than in the first half of the year,” Aramco CEO Amin Nasser said in a statement Tuesday.
Oil prices remain frustrated throughout the year unless the brief second quarter erupts caused by Israel-Iran tensions. The outlook for undetermined demand is under pressure from uncertain demand, since its launch in April, Wide tariffs in Washington. Protectionist trade measures the growth of the world’s largest economy and the future of the dollar, which makes most commodities, including crude oil, represent most commodities.
After Saudi Arabia and seven other OPEC partners Completely relaxed In September, voluntarily entered the last batch of 2.2 million barrels per day. According to independent analysts estimates Saudi Arabia has produced 9.356 million barrels per day recently.
Aramco is increasingly leveraging the debt market, with two issuances totaling $9 billion in the second half of 2024, one Three-part bond sales $5 billion this year.
Investor mentality is Aramco’s dividend policy, which was in March Cut investors’ returns Of the $85.4 billion to $85.4 billion, net profit fell in the first quarter, a sharp drop from $124.2 billion in 2024. Aramco announced a base dividend of $21.1 billion in the third quarter and a performance dividend of $200 million.
As of Monday, the company’s dividend yield was 5.5%, but it still leads its U.S. industry peers ExxonMobil3.6% and HerringboneAccording to fact set data, it is 4.5%.
Aramco’s spending is sharply integrated into Saudi Arabia’s budget, which has been diversifying economic disparities in oil dependence under Crown Prince Mohammed Bin Salman’s Iconic Vision Plan 2030. Saudi Arabia’s GDP Expanded by 3.9% in the second quarterdriven by non-oil activities.
