Saudi Aramco Oil Profits Decline
Rancakmedia.com – Saudi Aramco oil profits decreased by 45% in 2020, The Corona virus (COVID-19) pandemic has caused a decline in world oil interest. This makes the world's oil companies also suffer. One of them is Saudi Aramco.
Goliath oil organization reports on Monday (22 March 2021) by BBC that its benefits fell sharply compared to 2019. Throughout 2020 Saudi Aramco's oil profits decreased by 45%, the organization still booked a profit of $ 49 billion, or about Rs 707 trillion (exchange scale Rs 14,439).
The organization also reported it will distribute dividends to shareholders of $ 75 billion, or generally Rs. 1.082 trillion. The government of Saudi Arabia as Aramco's largest shareholder will receive the most dividends.
Saudi Aramco Oil Profits Decline 2020
This was viewed by the organization as the most difficult year ever. This is because due to restrictions on movement in various countries, the company has faced a sharp decline in world oil prices, which has hampered industry and various activities. It has also subverted interest in oil.
Other big oil and gas companies such as Royal Dutch Shell and BP also posted lower profits. In fairness, Exxon Mobil, the largest US energy organization, recorded its first annual loss.
Oil prices have increased slightly since December to $ 64.53 per barrel, mainly unrefined Brent. This was triggered by the continuous inoculation process in various countries. Most of the dividends are obtained from the government of Saudi Arabia as the largest shareholder in Aramco.
2020 is seen by the organization as the most difficult year ever. This is because due to restrictions on movement in various countries, the company has faced a sharp decline in world oil prices, which has hampered industry and various activities. It has also subverted interest in oil.
Other major oil and gas companies such as Royal Dutch Shell and BP also posted lower profits. In fairness, Exxon Mobil, the largest US energy organization, recorded its first annual loss.
Oil prices have increased slightly since December to $ 64.53 per barrel, mainly unrefined Brent. The trigger is the continuous process of immunization in various countries.
Amin Nasser, CEO of Saudi Aramco, said the organization anticipates positive steps in 2021.
“We are seeing an increase in popularity in Asia and positive signs in other countries. We believe this situation will continue as government policies and institutions around the world resume the economy," said Nasser.
Unfortunately, Saudi Aramco's oil also poses a different set of challenges. On Friday, March 19, the organization witnessed two robot attacks that damaged one of its refineries due to Saudi involvement in the Yemen war.
All things considered, Nasser said the processing plant was back up and running hours after the fact and the organization had emergency measures in place to deal with the attack.
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