Today, Tuesday, the Saudi Arabian Oil Company (Aramco) announced its financial statements for the third quarter of 2022, achieving profits of 159.12 billion riyals, compared to 114.09 billion riyals in the same period last year, an increase of 39.5%.
And (Aramco) said in a statement to the Saudi market (Tadawul), that the increase in profits during the comparative periods is mainly due to the increase in crude oil prices and the quantities sold. However, this increase was partially offset by an increase in rent over production which is largely attributed to the increase in the average real rent rate, resulting from the strong rise in crude oil prices and the increase in sales volume.
Revenues (Aramco) in the third quarter of this year amounted to about 543.71 billion riyals, compared to 359.09 billion riyals in the corresponding quarter of the previous year, an increase in revenues by 51.4%.
The net profit of (Aramco) in the first nine months of this year amounted to about 488.78 billion riyals, compared to 291 billion riyals in the same period in 2021, an increase of 68%.
(Aramco) decided to distribute cash dividends to the company’s shareholders for the third quarter of this year at a value of 70.33 billion riyals, provided that the eligibility is for the shareholders who own shares on the due date who are registered in the company’s shareholders’ register at the Securities Depository Center at the end of the second trading day following the maturity date, in The date of distribution is November 28, 2022.
