Oil giants Saudi Aramco have lost $ 49 billion in 2020 profits

WORLD NEWS SUPERFAST

DUBAI, United Arab Emirates News – Saudi Arabia’s state-backed oil giant Aramco announced on Sunday that its profits had reached nearly $ 49 billion in 2020. There has been a major decline in global energy markets in the form of coronavirus virus epidemics.

Oil price crashed as all-time lows

According to information received by the World News superfast, the Saudi Arabian oil company released its annual financial results a year after the pandemic, as the price of oil crashed as an all-time rise, as people spread the virus. 

Stopped going around the world to stop. In recent weeks, however, as price restrictions have intensified, commerce rises. More and more people are vaccinated against COVID-19. Nevertheless, analysts warn that a peak in demand may still be far away.

Aramco has paid a $ 49 billion dividend payment policy against its free cash flow of 2020

Despite a 44% drop in net income, Aramco said it reported quarterly revenues of $ 18.75 billion – $ 75 billion per year due to company commitments made to shareholders for its initial public offering, according to information received by World News superfast. Will stick to your promise to pay dividends. 

Almost all of the dividend money goes to the Saudi government, which owns more than 98% of the company. Aramco has a $ 49 billion dividend payout policy against its 2020 free cash flow, unlike other oil giants that have cut payouts. Seeking a cash infusion to pay billions of dollars in the wake of declining revenues, Aramco has recently issued international bonds.

Saudi Arabia gains $ 49 billion in 2020, down from $ 88.2 billion in 2019 and $ 111.1 billion in 2018

Public figures, since a mostly state-owned company listed a sliver of its value on Riyadh’s Tadawul Stock Exchange in 2019, provide valuable insights into the health of the region’s largest economy. Despite attempts by Saudi Crown Prince Mohammed bin Salman to separate the economy from oil, the state is heavily reliant on oil exports to reduce oil spending. 

Saudi Arabia has a profit of $ 49 billion in 2020, down from $ 88.2 billion in 2019 and $ 111.1 billion in 2018. Nevertheless, Aramco is one of the most valuable companies in the world.

Capital expenditure decreased to $ 27 billion in 2020 from $ 32.8 billion a year earlier

President and CEO Amin H. Nassar said in a statement – In the most challenging years of recent history, Aramco demonstrated its unique value proposition through its financial and operational agility. As a result, our financial position remained strong. 

The company said that during the year, crude oil produced equivalent to 9.2 million barrels per day. Capital expenditure was reduced to $ 27 billion in 2020 compared to $ 32.8 billion a year earlier. Aramco expects to spend $ 35 billion this year, which is $ 5-10 billion less than previous estimates.

Aramco facilities have come under increasing attack as Yemen’s Iran-backed Houthi rebels targeted the state’s oil refineries and export terminals along the southern border. In an interview with Saudi-owned Al-Arabiya TV on Sunday, Nasser said an ARMCO facility in the capital of Riyadh launched by drone the day before “began to return to service,” saying That the company has a contingency plan to deal with anyone. Attack . 

In recent months, oil prices have rebounded significantly since April 2020, when the price of international benchmark Brent crude fell below $ 20 a barrel. For the first time in a year, Brent’s price crossed $ 60 a barrel last month and traded more than $ 64 a barrel on Sunday.

WORLD NEWS SUPERFASTDUBAI, United Arab Emirates News – Saudi Arabia’s state-backed oil giant Aramco announced on Sunday that its profits had reached nearly $ 49 billion in 2020. There has been a major decline in global energy markets in the form of coronavirus virus epidemics.Oil price crashed as all-time lowsAccording to information received by the World News superfast, the Saudi Arabian oil company released its annual financial results a year after the pandemic, as the price of oil crashed as an all-time rise, as people spread the virus. Stopped going around the world to stop. In recent weeks, however, as price restrictions have intensified, commerce rises. More and more people are vaccinated against COVID-19. Nevertheless, analysts warn that a peak in demand may still be far away.Aramco has paid a $ 49 billion dividend payment policy against its free cash flow of 2020Despite a 44% drop in net income, Aramco said it reported quarterly revenues of $ 18.75 billion – $ 75 billion per year due to company commitments made to shareholders for its initial public offering, according to information received by World News superfast. Will stick to your promise to pay dividends. Almost all of the dividend money goes to the Saudi government, which owns more than 98% of the company. Aramco has a $ 49 billion dividend payout policy against its 2020 free cash flow, unlike other oil giants that have cut payouts. Seeking a cash infusion to pay billions of dollars in the wake of declining revenues, Aramco has recently issued international bonds.Saudi Arabia gains $ 49 billion in 2020, down from $ 88.2 billion in 2019 and $ 111.1 billion in 2018Public figures, since a mostly state-owned company listed a sliver of its value on Riyadh’s Tadawul Stock Exchange in 2019, provide valuable insights into the health of the region’s largest economy. Despite attempts by Saudi Crown Prince Mohammed bin Salman to separate the economy from oil, the state is heavily reliant on oil exports to reduce oil spending. Saudi Arabia has a profit of $ 49 billion in 2020, down from $ 88.2 billion in 2019 and $ 111.1 billion in 2018. Nevertheless, Aramco is one of the most valuable companies in the world.Capital expenditure decreased to $ 27 billion in 2020 from $ 32.8 billion a year earlierPresident and CEO Amin H. Nassar said in a statement – In the most challenging years of recent history, Aramco demonstrated its unique value proposition through its financial and operational agility. As a result, our financial position remained strong. The company said that during the year, crude oil produced equivalent to 9.2 million barrels per day. Capital expenditure was reduced to $ 27 billion in 2020 compared to $ 32.8 billion a year earlier. Aramco expects to spend $ 35 billion this year, which is $ 5-10 billion less than previous estimates.Aramco facilities have come under increasing attack as Yemen’s Iran-backed Houthi rebels targeted the state’s oil refineries and export terminals along the southern border. In an interview with Saudi-owned Al-Arabiya TV on Sunday, Nasser said an ARMCO facility in the capital of Riyadh launched by drone the day before “began to return to service,” saying That the company has a contingency plan to deal with anyone. Attack . In recent months, oil prices have rebounded significantly since April 2020, when the price of international benchmark Brent crude fell below $ 20 a barrel. For the first time in a year, Brent’s price crossed $ 60 a barrel last month and traded more than $ 64 a barrel on Sunday.
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