It was a brutal second quarter for the entire oil sector: Profits were hit hard by Covid-19 lockdowns exacerbating an ill-timed price war.
Saudi Arabian Oil Company had it worse than most because it also was a major contributor to massive output cuts that helped to stabilize the price of crude in the past...
Spencerjakab I really did not understand why it is a curse The Saudi government gets money for the company’s profit in two ways first tax %50 of the profit and dividend. There is no need to sell future share. Any investment is based on some risk why does he assume oil price will decrease?
Spencerjakab حتى اقوى شركة نفطية بالعالم بدأت تدار الشكوك حولها وحول امكانيتها على الاستمرار وتنفير المستثمرين من الخارج من الخوض او المراهنة عليها
Spencerjakab they want high price , $43 , end game saudis
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Saudi Aramco says it still plans to pay $75 billion in dividends for 2020Saudi Aramco still plans to pay $75 billion in dividends this year, the chief executive of the world’s top oil exporting company said on Sunday. Great news from Great company Whew. Good thing this isn’t Canadian Oil, eh, JustinTrudeau? I mean, we inow how we get oil and what we do with the revenues and Saudi Arabia is so much better... or they must be because we’ve shut our evil industry in. 98.5% of this business is owned by the Saudi royal family. Essentially, despite results, they have chosen to pay themselves the GDP of Guatamala. Laughable.
Source: Reuters - 🏆 2. / 97 Read more »
Aramco’s dividend defences are triple-lockedThe Saudi state oil giant is disbursing $18.8 bln despite quarterly earnings slumping to $6.6 bln. Ultra-low costs lend an edge over Western rivals. Low debt and priority for private shareholders are extra buffers for those willing to overlook environmental and social concerns.
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Breakingviews - Aramco’s dividend defences are triple-locked(Reuters Breakingviews) - Saudi Aramco has deployed its triple-bottomed dividend defences sooner than expected. The Saudi state energy giant is handing $18.75 billion to investors this quarter even though earnings plunged to little more than a third of that amount. It’s a contrast with rivals BP and Royal Dutch Shell, which both trimmed their payouts. But even if crude demand plunges again, the $1.8 trillion firm has multiple ways of ensuring rewards for shareholders.
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Dear Care and Feeding: We Let Our Kids Go Feral During Quarantine. Can We Bring Back Discipline Now?Parenting advice on quarantine discipline, violent toddlers, and fertility check-ins. Sounds like summer! Time to go back to “school”... but to a distance learning routine. So they’ll have to go to bed at a decent time and get up and login or check in... not to worry!
Source: Slate - 🏆 716. / 51 Read more »
Saudi Aramco profit drops 50% for first half of the year as pandemic batters oil priceThe financial results for the second quarter reflect the biggest shock to global energy markets in decades. Surprised the profit drop was only 50%? But they still profited, soooo. Who cares oil prices are fabricated anyways. Ocean exist or oil in Middle East and In US all they have to turn on is th Tap
Source: CNBC - 🏆 12. / 72 Read more »
Saudi Aramco's profit plunges 73.4%, sees signs of oil market recoverySaudi state oil group Aramco on Sunday reported a 73.4% fall in second-quarter net profit, a steeper drop than analysts had forecast, and said it expected capital expenditure for 2020 to be at the lower end of a $25 billion to $30 billion range. Yes - a start to the fall.
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