{"id":382132,"date":"2020-11-03T17:02:40","date_gmt":"2020-11-03T11:32:40","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=382132"},"modified":"2020-11-03T17:02:40","modified_gmt":"2020-11-03T11:32:40","slug":"saudi-aramcos-third-quarter-profit-falls-44-6-to-44-21-billion-riyals","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramcos-third-quarter-profit-falls-44-6-to-44-21-billion-riyals\/","title":{"rendered":"Saudi Aramco&#8217;s third-quarter profit falls 44.6% to 44.21 billion riyals"},"content":{"rendered":"<p>Saudi Arabian state oil group Aramco on Tuesday reported a 44.6% drop in third-quarter net profit, in line with analysts&#8217; estimates, dented by lower crude oil prices and volumes sold as the coronavirus crisis choked demand.<\/p>\n<p>Weaker refining and chemicals margins have also hit the company&#8217;s net profit, which fell to 44.21 billion riyals ($11.79 billion) for the quarter ended Sept. 30 from 79.84 billion riyals last year.<\/p>\n<p>Analysts had expected a net profit of 44.6 billion riyals in the third quarter, according to the mean estimate from three analysts, provided by Refinitiv.<\/p>\n<p>&#8220;We saw early signs of a recovery in the third quarter due to improved economic activity, despite the headwinds facing global energy markets,&#8221; Saudi Aramco Chief Executive Officer Amin Nasser said in a statement.<\/p>\n<p>The company said it would distribute a dividend of $18.75 billion for the third quarter of this year, in line with its plan to pay a base dividend of $75 billion for 2020.<\/p>\n<p>Dividends from the world&#8217;s top oil producing company play a critical role in helping the Saudi government manage its fiscal deficit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabian state oil group Aramco on Tuesday reported a 44.6% drop in third-quarter net profit, in line with analysts&#8217; estimates, dented by lower crude oil prices and volumes sold as the coronavirus crisis choked demand. Weaker refining and chemicals margins have also hit the company&#8217;s net profit, which fell to 44.21 billion riyals ($11.79 billion) for the quarter ended Sept. 30 from 79.84 billion riyals last year. Analysts had expected a net profit of 44.6 billion riyals in the third quarter, according to the mean estimate from three analysts, provided by Refinitiv. &#8220;We saw early signs of a recovery [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-382132","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/382132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=382132"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/382132\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=382132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=382132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=382132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}