Aramco’s Third-Quarter Adjusted Net Income Rises 9% to $31.2 Billion
November 3 (Saudi Arabia Breaking News) – Aramco reported third-quarter adjusted net income of $31.2 billion, up 9% from $28.6 billion a year earlier, and declared a base dividend of $21.9 billion.
The dividend increased 3.5% year-on-year and will be paid in the fourth quarter.
Adjusted earnings before interest and tax in Aramco’s Downstream business rose 234%, driven by stronger refining margins.
The company said production had started at the Zuluf crude oil increment. Other major Upstream projects remained on schedule, including the second phase of Jafurah, the Fadhili Gas Plant expansion and the Dammam field development.
Aramco also acquired a 49% stake in HUMAIN through a transaction involving asset transfers and approximately $2.6 billion in cash contributions.
Separately, it signed a shareholders’ agreement to establish a joint venture for mineral exploration and hard-rock mining.
President and Chief Executive Amin Nasser said employees, operational performance and the company’s supply network had enabled Aramco to maintain reliable energy deliveries despite regional events.
He said the company would continue prioritizing major projects and using advanced technologies to improve performance and develop new opportunities.
Source: SPA.
