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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Article Details

Category: EconomyBusiness

Markets: SingaporeSaudi Arabia

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

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 17:46:23 (2 weeks 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)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23429249

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