Aramco announced a tenth decrease in a quarterly net profit to $ 22.7 billion. In a quarter ending in June, compared to $ 29.1 billion. a year earlier. Aramco shares, however, grow by 0.9 percent. Up to 24.12, because the market expectations were more pessimistic, i.e. the result turned out to be 4 percent. higher than expected. This year, however, the shares of the Saudi giant fell by 14 %, remaining behind competitors from the industry.
The capitalization of Aramco is $ 1554 billion, which is more than three times more than the second largest oil company in the world, i.e. Exxon Mobil ($ 458 billion) and five times from the third, i.e. Chevron ($ 307 billion). Aramco is the seventh largest company in the world, mainly because it regularly pays enormous dividends.
Saudi Aramco quotations
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Sale of assets
“In the whole portfolio, we want to unlock the capital that is currently blocked in assets with low – relatively low – rate of return And invest it in our basic investment, which provides a high rate of return, “Ziad Al-Clryshed financial director told journalists.
He did not want to reveal the names of assets, but he said: “This is a typical low -rate instrument, related to, for example, infrastructure.”
The Reuters agency reported last month that Aramco is close to the conclusion of an agreement on obtaining $ 10 billion. from the group led by Blackrock and considers Sale of a maximum of five gas power plantsto obtain up to $ 4 billion. – says Reuters.
The company's total debt increased to $ 92.9 billion. on June 30 with $ 74.4 billion a year earlier.
Less dividends for the kingdom
The company, which has long been a reliable source of income for the Saudi state, confirmed the previously announced $ 21.3 billion. the total amount of dividends for the second quarter. In March, Aramco announced a dividend payment of $ 85.4 billion. throughout the year 2025 – decrease by 31 percent Compared to over USD 124 billion Last year. The decline is associated with lower free cash flow.
Free cash flows fell in the second quarter by almost one -fifth in terms of year to year, reaching $ 15.2 billion.
For Saudi Arabia government, which directly has 81.5 percent Aramco shares and another 16 percent via the PIF National Assets Funddividends are an important source of income, especially in the context of investments aimed at diversifying the economy, departing from crude oil – comments Reuters.
Last year, oil constituted 62 percent. revenues of the kingdomand the International Monetary Fund estimates that Saudi Arabia needs oil prices at the level of over $ 90. for a barrel to balance the budget for 2025.
The average completed price of oil Aramco was $ 66.7 for a barrel in the quartercompared to $ 76.3 in the first quarter and $ 85.7 In the second quarter of 2024, the prices did not go too much. On Tuesday, Brent oil quotations fall by 1 percent. up to $ 68 for a barrel.
“We anticipate that this year Saudi Arabia will record a budget deficit of 5.0 percent of GDP,” said James Swanston, a senior economist at Capital Economics, adding that the government will probably exceed its annual loan plan. It would be more than twice a deficit of $ 2.3 percent, or about $ 27 billion, as forecasted in November in the budget for 2025 – it was indicated in the Reuters material.
