Aramco earns 37% less in the second quarter due to the fall in oil prices

MADRID, 7 Ago.

Aramco earns 37% less in the second quarter due to the fall in oil prices


Saudi Aramco, the world's largest oil company, recorded net attributable profit of 29,035 million dollars (26,363 million euros) in the second quarter of 2023, which represents a 37.3% decline compared to the record result posted by the company in the same period of 2022 as a consequence of the correction of crude oil prices and the adjustment of refining margins.

Aramco's turnover between April and June reached 119,552 million dollars (108,550 million euros), 30.8% below the income for the same period of 2022.

Despite the drop in its results, the Saudi oil company has reported its intention to distribute 19,509 million dollars (17,714 million euros) in dividends, 4% more than a year earlier.

In this way, in the first six months of the year, Aramco's attributable net profit fell to 60,361 million dollars (54,806 million euros), 28.3% less than the result recorded by the Saudi oil company in the first half. of 2022.

The oil company's revenues until June totaled 242,174 million dollars (218,888 million euros), 22% less than a year earlier, while in the first half of the year it will allocate 39,016 million dollars (35,426 million) to dividends. euros), 4% more.

"We intend to start distributing our first performance-linked dividend in the third quarter," announced Aramco's Chairman and CEO, Amin H. Nasser, who stressed that the company maintains its medium- and long-term vision unchanged. .

"With an anticipated recovery in the broader global economy, coupled with increased activity in the aviation sector, continued investment in energy projects will be necessary to safeguard energy security," it said.