Between april and june, the company made a Profit Ofjust over 30 billion, a lot of money by anyones metric, but significantly down from more than the 48 billion it made in the same period a year ago. The main reason is, as you can see here, that oil prices during the period were at the lowest point in the last year, as the boost they got from russias invasion of ukraine wore off. And last week, in an effort to keep them that way, saudi arabia said it would only produce nine Million Barrels a day. That extended Production Cuts by the 0pec group of big oil producers, who profit more from a higher price. When it comes to saudi aramco, those higher prices mean higher Dividend Payments for shareholders, and its boosted those to nearly 30 billion in the current period. So i put it to our middle east Business Correspondent Sameer Hashmi that even with falling profits, the biggest winner is the saudi government, which is aramcos biggest shareholder. The saudi government owns around 90 of the c
Performance dividend. Live now to our middle east Business Correspondent sameer hashmi. Samir, Rhe Saudi State remains overwhelmingly aramco s biggest shareholder, so they remain the big winner in the aramco story. Well, thats right. They own around 90 of the company and the payout, the bulk of it, will go to the saudi government. If you look at aramco, every quarter they have been paying about 19. 8 billion of dividend. This time they have added another amount to that amount, because they said the cash flows are healthy and thatis said the cash flows are healthy and that is why they have decided to increase that overall dividend, which will be beneficial for the saudi government because it relies heavily on the Aramco Generating revenues for it, and that will help them in their Oil Diversification programme. They are these mega infrastructure projects, new tourist destinations. All this is being done keeping in that oil demand will decrease in years to come and they will have to come
That company is the saudio oil giant saudi aramco, and its feeling the effects of lower oil prices, lower than expected demand from china, and thinner Profit Margins for refining oil. Between april and june, the company made a Profit Ofjust over 30 billion, lot of money by anyone s metric, but significantly down from more than the 48 billion it made in the same period a year ago. The main reason is, as you can see here, that oil prices during the period were at the lowest point in the last year, as the boost they got from russias invasion of ukraine wore off. And last week, in an effort to keep them that way, saudi arabia said it would only produce nine Million Barrels a day. That extended Production Cuts by the 0pec group of big oil producers, who profit more from a higher price. When it comes to saudi aramco, those higher prices mean higher Dividend Payments for shareholders, and its boosted those to nearly 30 billion in the current period. So i put it to our middle east Business Cor
House of representatives is hereby declared vacant. And with that, Kevin Mccarthys nine month term as speaker was over. The final straw his decision to do a deal with democrats to keep the government open. He didnt hesitate to point the finger of blame at the eight republicans who ousted him, led by matt gaetz, his nemesis. Look, you all know matt gaetz. You know, it was personal. It had nothing to do about spending. The unprecedented removal of the speaker has Left Congress in chaos. So much so, theyve decided to take a week off while they work out what to do next. One rebel, though, was unrepentant. This was the right call. The American People deserve a leader and a speaker who will tell the truth, and so too does the international community. They need to know that the next speaker is going to be honest and wont go back on their word. With republicans focusing firmly on themselves, the question of funding for ukraine, which congress controls, remains undecided. It does worry me. And.
Road and bus projects in the north, the midlands and across the country. The speech was widely seen as an opportunity for the Prime Minister To Revitalise his party ahead of a general election expected next year. Political editor chris mason reports. Manchester this lunchtime, and the Prime Ministers warm up act his wife. Rishi and i are each others best friends, and i could not imagine being anywhere else to show my support to him. Rishi sunak began by thanking her, his daughters, his parents as he drew a link between himself and margaret thatcher. This conservative party, the party of the grocer s daughter and the pharmacist s son, will always be the party of enterprise, the party of small business. He said hes taken a look at how Government Works since he became Prime Minister, and not liked what hes seen. It isnt anger, its an exhaustion with politics. Weve had 30 years of a political system which incentivises the easy decision, not the right one. As for taxes, they will come down,