Saudi Aramco, the Saudi Arabian national petroleum and natural gas company, reported a net income of $27.56bn for Q3 2024, a decrease of 15.4% from $32.58bn in the same period last year. The Q3 2024 net income is aligned with analyst consensus, regardless of non-cash charges of approximately $900m.

Oil giants on both sides of the Atlantic suffered from lower oil prices and weaker refining margins in the quarter.

Saudi Arabian oil giant Aramco has reported third-quarter profits of $27.5 billion, down about 15% from last year as low oil prices ate into its revenues.

Saudi state oil giant Aramco reported a 15.4% drop in net profit in the third-quarter on the back of "lower crude oil prices and weakening refining margins," but maintained a 31.05 billion dividend. Aramco's dividend includes a base payout of $20.

Saudi Aramco will have a crucial decision to make early next year: Cut its $31 billion quarterly dividend and risk worsening the kingdom’s budget deficit, or keep borrowing to maintain the payout.

Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on Tuesday, citing prices which have stayed low despite production cuts and war in the Middle East. Yet despite lower production,

Saudi oil giant Aramco on Tuesday reported a 15.4% drop in third-quarter profit due to lower crude prices and weaker refining margins but still maintained its generous dividend at $31.1 billion for the quarter.

Saudi Aramco’s Q3 profit fell 15.4% to $27.6 billion due to lower oil prices, yet it maintained a $31.1 billion dividend, backing Vision 2030 and economic stability.