Saudi Aramco, which Apple Inc recently dethroned as the world’s most valuable listed company, said profit in the three months ending in June declined to 24.6 billion riyals (US$6.6bil) compared with 92.6 billion a year earlier, according to a statement.
RIYADH: Saudi Arabia’s state-controlled oil giant reported a 73% drop in second-quarter profit and maintained plans to pay US$75bil in annual dividends, a vital source of cash for a government saddled with a swelling deficit.
Saudi Aramco, which Apple Inc recently dethroned as the world’s most valuable listed company, said profit in the three months ending in June declined to 24.6 billion riyals (US$6.6bil) compared with 92.6 billion a year earlier, according to a statement.
Aramco will pay a second-quarter dividend of US$18.75bil, most of it to the government, the company’s main shareholder.
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