Overview
- Q2 adjusted net income stood at 92.04 billion riyals ($24.5 billion) with revenues of 378.83 billion riyals, down from 425.71 billion riyals a year earlier.
- The slump reflects a tenth straight quarter of declining profits driven by lower crude, refined products and chemical prices.
- Base and performance-linked dividends totalled US$21.3 billion, underscoring the company’s support for Saudi state finances.
- Aramco has raised debt through $9 billion in late-2024 bond issues and a $5 billion sale earlier this year to shore up liquidity.
- It plans to ramp up production when OPEC+ unwinds the last 2.2 million barrels per day of voluntary cuts in September to meet expected second-half demand growth.