Saudi Aramco Reports 3% Dip in Q2 Profits Due to Lower Crude Oil Production

Benzinga 2024-08-06

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Saudi Aramco's second-quarter profit dipped 3% year-over-year due to lower crude oil production volumes. Net income for the first half of the year was down from the same period a year ago. Aramco confirmed its second-quarter base dividend and announced an additional performance-linked dividend to be paid in the third quarter. The world's largest oil company expects to declare total dividends of over $120 billion in 2024. Shares of the company were trading slightly higher after the opening of the Saudi stock exchange on Tuesday.

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