{"id":638253,"date":"2024-03-12T09:49:19","date_gmt":"2024-03-12T04:19:19","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=638253"},"modified":"2024-03-13T09:24:20","modified_gmt":"2024-03-13T03:54:20","slug":"saudi-arabias-aramco-hikes-dividend-30-to-98-bn-despite-drop-in-profit","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-arabias-aramco-hikes-dividend-30-to-98-bn-despite-drop-in-profit\/","title":{"rendered":"Saudi Arabia&#8217;s Aramco hikes dividend 30% to $98 bn despite drop in profit"},"content":{"rendered":"<p>Saudi Arabia&#8217;s state-owned oil giant Aramco boosted its dividend despite net profit falling 24.7% to $121.3 billion in 2023 on lower oil prices and volumes, showing the state&#8217;s continued reliance on oil revenue as it seeks to diversify. <\/p>\n<p>The profit, down from $161.1 billion in 2022, was still the company&#8217;s second-highest on record, Aramco said on Sunday as it reported total dividends for the year of $97.8 billion, up 30%. <\/p>\n<p>Oil revenues made up 62% of total state revenues last year. The Saudi government, which directly holds about 82.2% of Aramco, relies heavily on the oil giant&#8217;s generous payouts, which also include royalties and taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia&#8217;s state-owned oil giant Aramco boosted its dividend despite net profit falling 24.7% to $121.3 billion in 2023 on lower oil prices and volumes, showing the state&#8217;s continued reliance on oil revenue as it seeks to diversify. The profit, down from $161.1 billion in 2022, was still the company&#8217;s second-highest on record, Aramco said on Sunday as it reported total dividends for the year of $97.8 billion, up 30%. Oil revenues made up 62% of total state revenues last year. The Saudi government, which directly holds about 82.2% of Aramco, relies heavily on the oil giant&#8217;s generous payouts, which [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-638253","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/638253","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=638253"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/638253\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=638253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=638253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=638253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}