A suicide attack on education institute in Afghanistan kills 19    Wall Street Closing    UK Economy Grew in Q2, Revised Data Shows    1,200 publishing houses showcase titles as Riyadh Book Fair kicks off    Saudi Arabia joins IAEA board of governors    Weather Forecast for Friday    Investment Minister Chairs the Saudi Side during Meeting of Trade and Investment Committee between Saudi Arabia and China    Minister of Culture Meets with Malaysian Minister of Tourism, Arts and Culture    GCC Secretary General Affirms the GCC's Support of Security and Stability in Sudan    Bahrain Stock Exchange Indices Close Trading Higher    CITC, National Telecommunications Agency of Brazil Sign MoU    Crown Prince receives written message from Bangladesh prime minister    Prince Badr affirms Saudi Arabia's appreciation for UNESCO's efforts    Iran president says 'chaos' will not be accepted as protests continue    GASTAT: Saudi unemployment rate drops to 9.7% in Q2    FSDP sets SR45 target for individual insurance Medical insurance will increase to 45%    Crown Prince unveils Savvy Game strategy to invest SR142 billion in esports    Saudi Arabia strongly condemns Iranian attacks on Iraq's Kurdistan region    Russia and West trade blame over alleged sabotage of undersea gas pipelines Nord Stream leak    FSC Holds Meeting with Delegation from World Affairs Councils of America    Royal Commission for Jubail and Yanbu Signs Investment Agreements worth over SAR7 Billion    Board of Grievances, US Case Western Reserve University Sign MoU in Research and Training    KAPSARC: Saudi economy 60% more resilient to oil market shocks as a result of Vision 2030 reforms    Saudi Arabia to establish new unified regulator for insurance sector    Body of famed US climber found on Mt Manaslu in Himalayas    Yoga introduced to Saudi universities    Pregnant woman and her fetus rescued after being run over in Jeddah    'Gate to the East', all the way spectacular artwork from Saudi Arabia to China    Islamic Minister Al-Sheikh: Juristic judgment catalyst to salvage Islamic Ummah    Federer bows out of tennis with final match    Culinary Arts Commission Registers 13 Foods on Slow Food List of Endangered Food    Australian Football League: Racism allegations prompt calls for inquiry    F1 returns to Jeddah in 2023 March    72% of Children Globally have been Victims of Cyber Threats    Australian football club hit by 'harrowing' racism, bullying claims    Saudi National Football Team Continues Preparations for Friendly Match against Ecuador    Saudi Futsal Team Beats San Marino, Wins Silver in Croatian International Championship    During 2nd Global AI Summit.. AI-powered Early Breast Cancer Detection Program Launched    Triple talaq: India Muslim women in limbo after instant divorce ruling    Film Commission Reviews Film Industry Prospects in Saudi Arabia at Venice International Film Festival    Saudi national volleyball team loses to Kyrgyzstan in Asian Challenge Cup final    Saudi national volleyball team beats Uzbekistan, qualifies for the final of the Asian Challenge Cup    Ka'aba door bears witness to Saudi rulers' care for the House of God Kaaba' door, repentance' door contain more than 280 KG of pure gold    How Aamir Khan adapted Forrest Gump to Bollywood Laal Singh Chaddha    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    Pilgrims Perform Dhuhr and Asr Prayers at Arafat Holy Site    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Aramco announces third quarter 2020 results
Published in Saudi Press Agency on 03 - 11 - 2020

The Saudi Arabian Oil Company ("Aramco" or "the Company") today announced its financial results for the third quarter of 2020. These results highlight the Company's financial and operational strength, despite market volatility and the impact of COVID-19 on the global economy.
Aramco continues to demonstrate its strength and resilience across economic cycles, navigating challenging market conditions to record net income of $11.8 billion and free cash flow of $12.4 billion in the third quarter of 2020.
Aramco declared a dividend of $18.75 billion for the quarter.
Q3 capital expenditure was $6.4 billion and Aramco continues to execute capital spending optimization and efficiency programs in response to the current business environment.
Total hydrocarbon production for the first nine months of 2020 was 12.4 million barrels per day of oil equivalent, of which 9.2 million barrels per day was crude oil.
The Company delivered crude and other products with 100% reliability in the third quarter of 2020, continuing its strong track record of supply reliability.
Aramco achieved a record historic single-day natural gas production of 10.7 bscfd on August 6, 2020 from both conventional and unconventional fields.
Commenting on the results, Aramco President & CEO Amin H. Nasser, said:
"We saw early signs of a recovery in the third quarter due to improved economic activity, despite the headwinds facing global energy markets. Meanwhile, we maintained our commitment to shareholder value by declaring a dividend of $18.75 billion for the third quarter.
"Aramco's integration with SABIC is proceeding as planned. Our resilience is supported by our unique scale, low upstream carbon intensity and low production costs. As the global economic and social landscape evolves, these strengths and our continued drive to lower GHG emissions mean we are well positioned to support the energy needs of the global economic recovery.
"We continue to adopt a disciplined and flexible approach to capital allocation in the face of market volatility. We are confident in Aramco's ability to manage through these challenging times and deliver on our objectives.
"We are making progress on multiple fronts, including the world's first blue ammonia shipment for zero-carbon power generation in Japan – further strengthening our focus on new and innovative solutions that contribute to the global energy transition."


Clic here to read the story from its source.