Aramco Claims 52.8% of Profits Among Six Largest Global Oil Companies

Saudi energy giant Aramco accounted for 52.8% of the combined profits of the world’s six largest energy companies, reporting a net income of $27.6 billion in the third quarter of 2024, down from $32.6 billion in the same quarter last year.
Commenting on the results, Aramco President and CEO Amin Nasser highlighted the company’s strong net income and free cash flows for the quarter despite declining oil prices.
Nasser noted Aramco’s advances in the exploration and production sectors, bolstering the value chain in refining, chemicals, and marketing, while expanding its new energy initiatives.
He also cited the recent issuance of $3 billion in international sukuk as a testament to investor confidence in Aramco’s resilience and growth potential.
By comparison, Exxon Mobil reported a third-quarter profit of $8.6 billion, Shell posted $6 billion, Chevron reported $4.5 billion, Total recorded $4.1 billion, and BP reported $1.4 billion in profit.
Aramco also announced third-quarter dividends for 2024, aligning with its policy to provide sustainable and increasing payouts to shareholders.
Additionally, it distributed performance-related dividends based on full-year results for 2022 and 2023, totaling 116.45 billion riyals ($31.05 billion). This included basic dividends of 76.06 billion riyals ($20.28 billion) and performance-linked dividends of 40.39 billion riyals ($10.77 billion).
In a statement on Tadawul, Aramco specified that 241.8 billion shares are eligible for dividends, with each share entitled to 0.4815 riyals. This comprises 0.3145 riyals in basic dividends and 0.1670 riyals in performance-linked dividends.
Shareholders on record as of November 14, 2024, will be eligible for the distribution, scheduled for November 26, 2024. The eligibility is based on ownership as of the due date, with registration in the shareholders’ register at the Securities Depository Center Company (Edaa) by the close of the second trading day thereafter.