Aramco bounces back on high oil; net income surges to $22bn
DHAHRAN (Saudi Arabia), 29 days ago State oil giant Saudi Arabian Oil Company (Aramco) has registered a 30 per cent jump in its net income which soared to $21.7 billion for the first quarter from $16.7 billion, primarily driven by a stronger oil market and higher refining and chemicals margins, partly offset by lower production. Announcing the results for the first three months ended March 31, Aramco said this growth was underpinned by higher oil prices and an improved economic environment in the first three months of 2021. During this period, Aramco demonstrated reliable upstream performance with an average total hydrocarbon production of 11.5 million barrels per day of oil equivalent in the first quarter of 2021, including 8.6 million barrels per day of crude oil.
May 04, 2021
Aramco Tuesday announced its first quarter financial results, posting a 30% year-on-year increase in net income to $21.7 billion and declaring a dividend of $18.8 billion to be paid in Q2.
DHAHRAN The Saudi Arabian Oil Company (Aramco) Tuesday announced its first quarter financial results, posting a 30% year-on-year increase in net income to $21.7 billion and declaring a dividend of $18.8 billion to be paid in Q2.
The results were underpinned by higher oil prices and an improved economic environment in the first three months of 2021.
Commenting on the results, Aramco President & CEO Amin H. Nasser, said: “The momentum provided by the global economic recovery has strengthened energy markets, and Aramco’s operational flexibility, financial agility and the resilience of our employees have contributed to a strong first quarter performance.
Free cash flow : $18.3 billion Q4 2020 dividend of $18.8 billion paid in the first quarter; Q1 2021 dividend of $18.8 billion to be paid in the second quarter The Saudi Arabian Oil Company ( Aramco or the Company ) today announced its first quarter financial results, posting a 30% year-on-year increase in net income to $21.7 billion and declaring a dividend of $18.8 billion to be paid in Q2. The results were underpinned by higher oil prices and an improved economic environment in the first three months of 2021.
Commenting on the results, Aramco President & CEO Amin H. Nasser, said: The momentum provided by the global economic recovery has strengthened energy markets, and Aramco s operational flexibility, financial agility and the resilience of our employees have contributed to a strong first quarter performance. For our customers we remain a supplier of choice, and for our shareholders we continue to deliver an exceptional quarterly dividend.
The energy regulator has re-fixed the price of liquefied petroleum gas (LPG) of private companies.
Bangladesh Energy Regulatory Commission (BERC) yesterday reduced the retail price of LPG by around 7 percent. According to the new rate, retailers will have to sell 12kg gas in LPG cylinder at Tk 906, down from the existing price of Tk 975.
The new price will become effective from next month, BERC Chairman Abdul Jalil said while announcing the new price at a virtual press conference.
He said they re-fixed the price as per the new rate of the Saudi Contract Price for May.
The contract price rate set by the Saudi Arabian Oil Company (Saudi Aramco) each month is the dominant price for LPG in Asia and elsewhere in the world.
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