Saudi Aramco said strong market conditions helped to push its second quarter net income to $48.4 billion, up from $25.5 billion a year earlier.
Saudi state oil giant Aramco reported 112.81 billion riyal ($30.07 billion) in net profit in the second quarter, a drop of nearly 40% from the same period of last year amid a decline in hydrocarbon prices.
Second-quarter profit nevertheless came slightly above analyst expectations near $29.8 billion in an Aramco-supplied poll.
The oil giant reaffirmed its first quarter base dividend of $19.5 billion, paid in the second quarter, and declared a second-quarter dividend of $19.5 billion, to be delivered in the third quarter.
Aramco also said it intends to distribute performance-linked dividends over six quarters, starting with a $9.9 billion distribution in the third quarter.
Persons:
Amin Nasser, Nasser
Organizations:
Saudi Aramco, Aramco
Locations:
Saudi, Aramco