Saudi Aramco has announced a significant dividend payout of $31.07 billion for 2024, marking a 4% increase from the previous quarter. Amidst fluctuating crude oil prices and sales volumes, as well as weakening refining and chemicals margins, the company has still managed to achieve its second-highest net income on record. This financial maneuvering comes as Aramco's CEO, Amin H. Nasser, projects a 'healthy' global oil market with robust demand, particularly from China, expecting an oil demand growth of 1.5m b/d in 2024, higher than the IEA's forecast of 1.2m b/d. Aramco is also expanding its investments, notably in LNG projects in the US and further opportunities in China, aiming to bolster its global growth. This strategic direction is part of Saudi Arabia's broader ambition to diversify its economy, with the dividends, totaling $97.8 billion and free cash flow at $101.2 billion, supporting Crown Prince Mohammed bin Salman's visionary projects, such as the 'mirror city' in the desert. Additionally, Aramco is pushing forward with plans to increase gas supplies by 60%, targeting 12 GW of equity in renewable energy by 2030, while maintaining its current rig count, despite a 25% fall in profits.
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Is Saudi Aramco cooling on crude oil?: Don’t bet on it https://t.co/ybkHbHko62
Has Saudi Arabia stopped believing in a bright future for petroleum? Recently this question has hung over the desert kingdom’s national oil goliath, which has a central position in the world’s markets https://t.co/zjw0eMAI1i 👇
Comparison of IEA, OPEC oil demand forecasts since 2008 https://t.co/ZtXI5D0dJA https://t.co/BEyY8MSCsJ
Rs 4.5 dividend per share: LIC-backed Rs 200 stock to pay monetary reward on THIS date – Know record date https://t.co/TuS88UfU3x
Saudi Aramco turns to China for future oil demand as profits fall 25%, @jackvdutton reports https://t.co/oEKoX5mAfn
OPEC, IEA at most divided on oil demand since at least 2008 #oott https://t.co/Cqlyp6Kj5k
Our Chief Investment Officer @Josh_Young_1 was on @CNBCi discussing Saudi Aramco's results and the implications for commodity prices and LNG markets https://t.co/eAAAKcLrHZ https://t.co/11aksLL1fW
Aramco currently utilizing 300 rigs and that count will not change despite the pause on manifa and safaniya #OOTT
Aramco is still targeting 12 GW of equity in renewable energy by 2030 #OOTT
800% Dividend Payout! TVS Motor announces monetary reward! Stock vroomed 111% in 1 year https://t.co/AvYaqiqoJj
Stocks In News | TVS Motor: To pay Rs 8/sh as interim dividend @tvsmotorcompany https://t.co/vJZJVVQycZ
Share Split: Multi-bagger stock turns ex-date today for sub-division of equities - Details https://t.co/HCwBKLiC6R
Aramco raised its dividend despite a retreat in energy prices and lower production, a boost for Saudi Arabia as it faces a widening budget deficit. https://t.co/q15mrYAn2s
Saudi Aramco Hikes Dividend, Adjusts Spending https://t.co/QgOVoUmz2c
Bonus Share: 130% RETURN in 1 year! Radhakishan Damani portfolio stock to become cheaper; record date fixed https://t.co/Z10y8qbbLN
According to industry sources projects related to the Jaffoura gas development and Master Gas are being awarded, as Aramco pushes ahead with a plan to boost gas supplies by 60%. #OOTT
Aramco's second-highest net income on record, far outpacing the profitability of its largest global peers. The company has boosted its mega dividend payout, despite economic headwinds https://t.co/hOzbyETCK5
Rs 8.50 dividend share: PSU stock fixes ex-date, record date and payment date https://t.co/YPnOycqk2f
Aramco Raises Payout to $31 Billion in Boon for Saudi Budget: BBG gonna see alot more "unexplained" oil supply-chain terrorism in the next few months
Saudi Arabia’s state-owned oil company has paid out nearly $100bn (£77bn) in dividends as Crown Prince Mohammed bin Salman seeks to fund ambitious plans to build a ‘mirror city’ in the desert https://t.co/qecI37uM6R
Saudi Aramco raises 2030 gas target as capex growth to slow on oil #oott https://t.co/ooiTey6s7f
Aramco sees 'healthy' oil demand growth of 1.5 million b/d this year #oott https://t.co/HayAXieOIt
What do you think of Saudi Aramco's results? https://t.co/QZwfZWx0EX
Interesting set of results released by Aramco today. Free cash flow*: $101.2 billion Total dividends of $97.8 billion Increasingly large divvy paid to KSA, in addition to increasingly higher CAPEX (on a declining production...) @Josh_Young_1 interested in your thoughts on this.
100% Dividend Share: Chemical stock under Rs 450 fixes record date; check dividend history https://t.co/uB0oDMpTJF
Aramco pays nearly $100bn in dividends as profits tumble https://t.co/CIASn8BcfP
https://t.co/lWepa4UydP Dividend Stocks 2024: Life insurance company announces its highest-ever payout! Know record date, payment date
Saudi Aramco is in talks with companies for LNG projects in the US as it looks to the fuel for global growth at a time when rivals in the region are also expanding in the secto
Aramco sees China demand growing, eyes more investments Saudi Aramco Chief Executive Amin Nasser said on Sunday the oil giant was looking at further opportunities to invest in China, where he said oil demand was robust and growing. State-owned Aramco has been ramping up its…
Aramco sees #China demand growing, eyes more investments #oott https://t.co/I5arA53v1p
Saudi Arabia wants to invest in an LNG project 🇸🇦🚢 💰 Aramco is in “discussions with a number of entities in the US and other regions,” said CEO Nasser 👀 They will focus on overseas LNG projects, and use its gas at home to produce blue hydrogen/power https://t.co/EwdCQHW1AS
🇨🇳🛢️ ARAMCO CHIEF SEES HEALTHY CHINESE DEMAND, LOOKING AT MORE INVESTMENTS Full Story → https://t.co/3rzpbRbnQg Saudi Aramco Chief Executive Amin Nasser said on Sunday the oil giant was looking at further opportunities to invest in China, where he said oil demand was robust… https://t.co/AKRjRARIKw
Aramco chief sees healthy Chinese demand, looking at more investments https://t.co/tGUjyd3i8e https://t.co/0Ig34GRG7U
⚠️ ARAMCO CHIEF SEES HEALTHY CHINESE DEMAND, LOOKING AT MORE INVESTMENTS Full Story → https://t.co/3rzpbRbnQg
Aramco in Talks for US LNG Projects as Mideast Gas Race Heats Up Saudi state company in discussions with a number of entities Others in the region are also betting big on the LNG sector https://t.co/pATKtYpcFI
Saudi Aramco is in talks with companies for LNG projects in the US as it looks to the fuel for global growth at a time when rivals in the region are also expanding in the sector https://t.co/CZNxrUnSL3
Aramco said that "the decrease mainly reflects the impact of lower crude oil prices and lower volumes sold, and weakening refining and chemicals margins". https://t.co/fLCP5chhzP
Saudi Aramco Dividend 2024: MASSIVE $31.07 bn payout! 4% up from last quarter - Record date, distribution date https://t.co/BTPANvtmCw
Global oil market to remain 'healthy' this year, says Amin H. Nasser, CEO of Saudi Aramco https://t.co/o4nwUAlRBz
Saudi Aramco sees global oil demand up 1.5m b/d in 2024 (largely around consensus, but higher than the IEA own forecast of 1.2m b/d). Aramco CEO calls consumption growth "robust" and describes the oil market as "heathy" | #OOTT