Saudi Aramco reports net income of $88.2bn in 2019
- Date: 16-Mar-2020
- Source: Arabian Industry
- Sector:Industrial
- Country:Saudi Arabia
Saudi Aramco reports net income of $88.2bn in 2019
The ordinary dividends represent a proportion of the $13.4bn total ordinary dividends declared for the fourth quarter 2019.. The company's low upstream costs and low sustaining capital provide significant flexibility and demonstrate differentiation to its peers.. The company demonstrated its long-standing reputation for reliability.. In February 2020, the company received regulatory approval for the development of the Jafurah unconventional gas field in the Eastern Province.. Saudi Aramco entered into a share purchase agreement last year to acquire the Public Investment Fund's 70% equity interest in SABIC, one of the world's largest chemicals companies, for $69.1bn.. "Our unique scale, low costs, and resilience came together to deliver both growth and world-leading returns, while also maintaining our position as one of the world's most reliable energy companies.".