Saudi Aramco’s Q3 2020 profit higher than world’s biggest oil firms, says official

Saudi Aramco maintained a strong net profit for the third quarter of 2020, which is higher than the consolidated profit of the five major global oil companies, said Khalid Al-Dabbagh, senior vice president of finance strategy and development at Saudi Aramco.

He told Al-Ekhbariya TV that Aramco’s cash dividend for Q3 2020 is the highest among the listed companies worldwide.

According to data compiled by Argaam, Aramco reported net earnings of SAR 44.2 billion for Q3 2020, 45% lower compared with the same period last year.

The leading oil producer announced distributing cash dividend for Q3 2020 at a total value of SAR 70.32 billion ($18.75 billion).