Saudi Aramco, the Saudi Arabian national petroleum and natural gas company, reported a net income of $27.56bn for Q3 2024, a decrease of 15.4% from $32.58bn in the same period last year. The Q3 2024 net income is aligned with analyst consensus, regardless of non-cash charges of approximately $900m.

Oil giants on both sides of the Atlantic suffered from lower oil prices and weaker refining margins in the quarter.

Saudi Arabian oil giant Aramco has reported third-quarter profits of $27.5 billion, down about 15% from last year as low oil prices ate into its revenues.

Saudi state oil giant Aramco reported a 15.4% drop in net profit in the third-quarter on the back of "lower crude oil prices and weakening refining margins," but maintained a 31.05 billion dividend. Aramco's dividend includes a base payout of $20.

Saudi Aramco will have a crucial decision to make early next year: Cut its $31 billion quarterly dividend and risk worsening the kingdom’s budget deficit, or keep borrowing to maintain the payout.

Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on Tuesday, citing low oil prices.

Saudi oil giant Aramco on Tuesday reported a 15.4% drop in third-quarter profit due to lower crude prices and weaker refining margins but still maintained its generous dividend at $31.1 billion for the quarter.

Saudi Aramco’s Q3 profit fell 15.4% to $27.6 billion due to lower oil prices, yet it maintained a $31.1 billion dividend, backing Vision 2030 and economic stability.