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 comes despite global oil demand reaching new heights, signaling a complex year for the oil giant.

Revenue and Earnings Per Share

Total revenue for the year ending December 31, 2024, was reported at $436.6 billion, a slight decrease of around 1% compared to the previous year. Earnings per share also saw a significant drop, falling 14% to $0.43.

Dividend Announcement

The Board declared a base dividend of $21.1 billion for the fourth quarter of fiscal year 2024, marking a 4.2% increase year over year. This dividend is scheduled to be paid in 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."