Aramco's Financial Performance in 2024

Saudi Arabian Oil Company, known as Saudi Aramco, announced a 12% decrease in its net income for the fiscal year 2024, totaling $106.2 billion. This decline is in comparison to the previous year's figures. The company's total revenue for the year ending December 31, 2024, was reported at $436.6 billion, marking a slight decrease of about 1% annually. Earnings per share also saw a reduction, dropping by 14% to $0.43.

Dividend Announcement

In a move that highlights its financial health, Saudi Aramco's Board declared a base dividend of $21.1 billion for the fourth quarter of fiscal year 2024. This represents a 4.2% increase from the previous year, with the payment scheduled for the first quarter of 2025.

CEO's Statement

CEO Amin Nasser commented on the company's performance, stating, "Our strong net income and increased base dividend illustrate Aramco’s exceptional resilience and ability to leverage its unique scale, low cost, and high levels of reliability to deliver industry-leading performance for our shareholders and customers. Global oil demand reached new highs in 2024, and we expect further growth in 2025."