A sharp fall in its net profit, slipping 25 in 2023 compared to the previous year. Aramco attributed the downturn to Lower Crude Oil prices and decreased production. The companys net income dropped from 161 billion in 2022 to 121 billion last year. Despite the challenges posed by declining oil prices, aramco will increase its dividend payments, providing a much needed financial boost to saudi arabia. Lets get more now from our middle east Business Correspondent sameer hashmi. With a big fall off in profit, why is it increasing its dividend . It its dividend . Is a steep fall compared to 2022. It is a steep fall compared to 2022. It is still the second best performance in terms of annual results at 121 billion. Two reasons why they increased the dividend pay out. Number one, Aramco Abbott is the main driver of the Saudi Arabian economy. Saudi owned entities own 19 of it and they rely heavily on that income to really find some these massive projects inside arabia. They tried to keep the
in place. biden gets terrible press. he s in the middle of the impeachment scandal. his son was on tv today, received mixed reviews. everyone knows what they think of joe biden. so these nights don t have as much at stake for people for whom everyone already knows how they feel. i think that what people will be talking about tomorrow morning around the water cooler is pete buttigieg. pete buttigieg seems to speak to this primal hunger for something different and something better, not just among democrats. and i think democrats will choose among those 12 candidates, but i think democrats have front of mind electability, and i think buttigieg had a fantastic night. among the 2% and 3%, did you detect any movement? some had better nights than others. there just hasn t been any movement. i think if you go back to kamala harris stellar night, i think it was two, three debates ago, she was up for a little while and then it faded. these debates haven t proven to be the thing.