Saudi Aramco reports 15% drop in Q3 profit but maintains dividend

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DUBAI: Saudi oil giant Aramco on Tuesday (Oct 5) reported a 15.4 per cent drop in third-quarter profit due to lower crude prices and weaker refining margins, but maintained its generous dividend at US$31.1 billion for the quarter.

Aramco posted net income of US$27.

Aramco's shares are down about 17 per cent this year, trailing the performance of Western oil majors Exxon and Shell, but broadly in line with BP, which is down 18 per cent.

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Category: EconomyBusiness

Markets: SingaporeSaudi Arabia

Topics: Aramco Prices Billion Saudi Year Debt Riyals Performance-linked Cent Dividends Dividend

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 17:46:23 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 644 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23429249

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