Aramco Hits 300% Increase in 2nd Quarter Profit as the Demand Increase
Business ı By Rochdi Rais
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Aramco shares Its dividend plans
According to Aramco, the free cash flow had hit $22.6 billion in the second quarter. On the other hand Aramco had hit $40.9 billion for the first six months of 2021. This in comparison to $6.1 billion and $21.1 billion respectively for the same periods of 2020 is a huge increase. “A dividend increase is needed to stay competitive,” BofA analysts said in a research note ahead of the earnings release. “Higher oil prices and OPEC+ driven production increases should support a significant free cash flow increase over the next couple of years,” it added. “We are looking at our sustainability program,” Nasser told CNBC on Sunday’s earnings call. “A lot of the elements of our capital program that we are currently considering have to do with crude-to-chemical and hydrogen, and all of these programs represent great opportunities, especially with the Shareek program,” he added.
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