Energy and oilUpdated November 3

Aramco reports a 9% rise in adjusted earnings and higher cash flow

Aramco reported Q3 adjusted net income of SAR117.0 billion, up 9% from SAR107.2 billion a year earlier. In its results announcement carried by the Saudi Press Agency, the company attributed the increase to operational excellence, rapid recovery capabilities, flexibility and readiness. Operating cash flow reached SAR145.2 billion, compared with SAR135.4 billion, while free cash flow rose to SAR105.8 billion from SAR88.4 billion. The board announced a base dividend of SAR82.1 billion for the quarter, up 3.5% year on year and scheduled for payment in Q4. CEO Amin bin Hassan Al-Nasser said Aramco continued to supply customers reliably despite events in the region, citing workforce dedication, operational excellence, business flexibility and the supply network.

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Coverage started November 3