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Benzinga
  • 3 years ago
Saudi Aramco, the state oil giant of Saudi Arabia, saw its third quarter net profit decline 23% due to lower crude oil prices and lower volumes sold compared to the same period last year. Net profit for the quarter ending September 30th was $32.6 billion, down from $42.4 billion in the same period last year. Aramco maintained its dividend payout of $29.4 billion to investors and the Saudi government. Weaker oil prices have cut into profits across the whole energy sector, with other majors like ExxonMobil and Chevron also reporting large annual declines for the third quarter.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Saudi Aramco, the state oil giant of Saudi Arabia, saw its third quarter net profit decline
00:07 23% due to lower crude oil prices and lower volumes sold compared to the same period last
00:11 year.
00:12 Net profit for the quarter ending September 30 was $32.6 billion, down from $42.4 billion
00:18 in the same period last year.
00:19 Aramco maintained its dividend payout of $29.4 billion to investors and the Saudi government.
00:25 Weaker oil prices have cut into profits across the whole energy sector, with other majors
00:28 like Exxon Mobil and Chevron also reporting large annual declines for the third quarter.
00:33 For all things money, visit Benzinga.com.
00:35 [BLANK_AUDIO]
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