[ad_1]
Aramco won 183.76 billion riyals ($ 49 billion) in 2020, down 44%, from 330.69 billion riyals ($ 88.19 billion) in 2019.
The company, in a statement on Tadawul, attributed the reason for the drop in profits to lower crude oil prices and reduced sales volume, as well as lower profit margins in refining operations. and chemistry.
While fourth quarter profit was 50.6 billion riyals, down 33%.
In addition, “Saudi Aramco” announced the distribution of cash dividends of 70.33 billion riyals ($ 18.76 billion) to shareholders for the fourth quarter of 2020.
Aramco will distribute 35.18 halala per share for the fourth quarter of 2020.
Control spending and focus on opportunities
With its flexible capital program and prudent financial management, the company has been able to fine tune its spending and focus on high yielding opportunities. Capital spending in 2020 amounted to 101 billion Saudi riyals ($ 27 billion) compared to 123 billion Saudi riyals ($ 33 billion) due to the implementation of programs to improve spending and increase their efficiency, which has contributed to significant savings compared to previous spending policies. .
The company also continues to assess its capital spending and programs to improve spending and improve efficiency, and expects capital spending for 2021 to be around 131 billion Saudi riyals ($ 35 billion ), which is lower than the previous indicative capital expenditure program of 150-169 billion Saudi Riyals ($ 40-45 billion).
Frequent attacks on Aramco facilities and international condemnations
It is noteworthy that the Iranian-backed militias have stepped up their attempts in the last period to target civilian and economic property in the Kingdom in attempts which have drawn condemnation from several Arab and Western countries, underlining their support. to the Kingdom and its security, denouncing the terrorist attacks of the Houthis.
First Friday Friday, an official from the Saudi Energy Ministry announced that the Riyadh refinery had been attacked by a terrorist drone.
While the United States condemned the attack, describing it as an attempt to “obstruct the global supply of oil,” State Department spokeswoman Galina Porter told reporters: “We strongly condemn the attacks against Saudi Aramco facilities ”.
In addition, an official source at the Saudi Ministry of Energy has confirmed that supplies of oil and its derivatives in the Kingdom have not been affected by the attack on the Riyadh oil refinery.
Port de Ras Tanura – Saudi Aramco, Dhahran Pictures
And before that, precisely on March 7, the Iranian-backed Houthi terrorist militia failed to target the port of Ras Tanura and the residential area of Dhahran in eastern Saudi Arabia.
The Saudi Defense Ministry said at the time that the attempted attack on one of the oil yards at the port of Ras Tanura and Saudi Aramco’s facilities in Dhahran was a “cowardly terrorist attack targeting the world’s energy supply. and security “.
Source link
