Saudi Aramco’s Q2 Earnings Drop 38% On Lower Oil Prices ...Middle East

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Saudi Aramco’s Q2 Earnings Drop 38% On Lower Oil Prices
source : OILPRICE ( Middle East ) () 18
Lower oil prices dragged down the profits at Saudi Aramco by 38% in the second quarter of 2023, but the world’s largest oil company is boosting dividend payout with a new performance-linked initiative. Aramco reported on Monday a net income of $30.1 billion for the second quarter of 2023, down by 38% compared to the $48.4 billion net profit for the same period of 2022, when oil prices surged to above $100 per barrel after the Russian invasion of Ukraine.   The net income for Q2 2023 slightly beat a company-provided median analyst estimate…

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