Saudi Aramco announces first quarter results of 2021
Tuesday 9/22/1442 AH, corresponding to 04/05/2021 AD, SPA
Dhahran, Ramadan 22, 1442 AH, corresponding to May 04, 2021 AD, SPA
The Saudi Arabian Oil Company “Saudi Aramco” today announced its financial results for the first quarter of 2021, with an increase of 30% year-on-year in net income, which amounted to 81.4 billion Saudi riyals, and dividends of 70.3 billion Saudi riyals that it will pay during the second quarter of this This year, noting that these results reflect the increase in oil prices and the improvement of the economic environment in the first three months of 2021.
The President and Chief Executive Officer of Saudi Aramco, Eng. Amin bin Hassan Al-Nasser, explained that the financial and operational results in the first quarter of 2021 showed very strong and distinct levels, and were a reflection of the improvement in the operational environment represented in the positive trends witnessed by many regions of the world towards a gradual return to economic recovery and balance The oil markets affected by the pandemic, indicating that these results reflected Saudi Aramco’s relentless commitment to achieving excellent levels of efficiency, innovation and reliability, in which it has proven to be the preferred supplier to its customers, in addition to communicating with the distribution of profits to shareholders.
Al-Nasser said: “During the first quarter, we made more progress to achieve the strategic objectives, as the business portfolio improvement program implemented by the company continues to identify opportunities for value creation, which was reflected in a pioneering investment deal in infrastructure worth 46.5 billion riyals represented in the pipeline deal. Oil, which was previously announced at the beginning of the second quarter, and the “partner” program holds promising prospects for unleashing new opportunities in the local market that will contribute to enhancing the reliability and sustainability of the company and will have a positive impact on developing the capabilities of the private sector and the investment and economic environment in the Kingdom. “
He added, “Given the positive indicators of energy demand levels for 2021, we are optimistic about what the future holds, although there are still some challenges. However, with the start of the global economic recovery, Saudi Aramco will be ready to meet the world’s growing energy needs.”
10:50 PM CE