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Aramco Q3 Profit Down, Dividend Maintained
Saudi Aramco's Q3 2024 net profit fell 15.4% to $27.56 billion due to lower oil prices and refining margins, but the company maintained its $31.05 billion dividend.
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United States
Middle EastEnergy SecurityFinanceEnergyOilProfitDividend
AramcoOpec+Public Investment FundAl Rajhi CapitalTadāwul
- Who are the main beneficiaries of Aramco's dividend?
- The Saudi government and the Public Investment Fund, holding major stakes in Aramco, are the primary beneficiaries of the dividend.
- How did the average selling price of oil change between the second and third quarters of 2024?
- The average selling price of oil fell from $85 per barrel in Q2 to $78.7 per barrel in Q3, impacting Aramco's year-on-year earnings.
- Did Aramco maintain its dividend despite the drop in net profit? If so, what was the total amount?
- Despite the profit decline, Aramco maintained its dividend at $31.05 billion, comprising a base payout and a performance-linked component.
- What was Aramco's net profit in the third quarter of 2024, and what were the main reasons for the decrease?
- Aramco's net profit dropped 15.4% in Q3 2024 to $27.56 billion due to lower crude oil prices and weaker refining margins, exceeding the company's estimate of $26.9 billion.
- What were Aramco's earnings before interest and taxes (EBIT) in the third quarter, and how did it change compared to the previous year?
- Aramco's Q3 EBIT decreased by 17% year-on-year to $51.45 billion, while capital expenditure guidance increased by 20% to $13.23 billion.