Aramco oil payments to Saudi government fall 30% to $110bn ...Qatar

Gulf Times - News

Aramco’s payments to the Saudi Arabian government fell by 30% last year, even as the company maintained its $75bn dividend, with the coronavirus pandemic sending crude prices tumbling. The world’s biggest oil producer transferred 413bn riyals ($110bn) to the state in 2020 in the form of dividends, royalties and income taxes, Aramco has said in a financial statement. The money is a crucial source of revenue for the government, whose budget deficit widened last year as the economy went into recession. Aramco, 98% state-owned, kept its pledge to pay the $75bn dividend, the largest of any listed company. But royalties and taxes more than halved to around $41bn. Aramco’s debt swelled to $162bn a

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Last updated : 27 March 2021 clock 11:00 PM

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