Saudi Arabia’s state-owned oil giant reported a $106.25 billion profit in 2024, down 12% from the prior year as the lower prices now squeeze the kingdom’s development plans.

By Yousef Saba DUBAI (Reuters) -Saudi oil giant Aramco signalled on Tuesday it will slash its dividend payouts by nearly a third this year, meaning fewer funds for the kingdom as it races to complete several mammoth projects and possibly faces a wider budget deficit.

Saudi oil giant Aramco said on Tuesday it expects to declare total dividends of $85.4 billion in 2025, a near 30% drop from payouts in 2024 as it faced lower sales and higher costs.Aramco paid about $124.

A filing on Riyadh's Tadawul stock exchange showed the oil company, formally known as the Saudi Arabian Oil Co., had revenues of $436 billion in 2024.

Saudi Aramco has reduced its crude oil prices for Asian buyers, its first cut in three months, to maintain competitiveness amidst OPEC+ production increases and shifting global supply dynamics.

Policymakers and energy executives need to rethink energy transition plans and stop doubling down on elements of the transition that have failed, the CEO of state oil giant Saudi Aramco 2222.SE said on Monday,

ADNOC has made its first trades via the S&P Global Platts pricing process for Dubai crude oil, an unusual move for a Middle Eastern producer that impacts regional oil pricing.

Saudi Aramcoset April official selling price (OSP) for its Arab Light crude to North America at $3.8 per barrel above the Argus Sour Crude Index (ASCI

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-owned oil giant Aramco reported a $106.25 billion profit in 2024 on Tuesday, down 12% from the prior year as lower energy prices now ...

FILE - Saudi Arabia's state-owned oil company Armco and stock market officials walk under a screen displaying the value traded and the volume traded of Aramco's initial public offering (IPO) on ...

Michelle Brandes, left, and Steven Gress, right, are facing charges in the murder of Miranda Corsette in St. Petersburg, Fla. FILE - Saudi Arabia's state-owned oil company Armco and stock market ...