Aramco maintained its quarterly dividend at $31 billion despite lower profit as the payout becomes increasingly crucial for Saudi Arabia’s government in its multitrillion-dollar economic makeover plan.
Aramco raised its dividend despite a retreat in energy prices and lower production, a boost for Saudi Arabia as it faces a widening budget deficit.
Saudi Aramco agreed to buy a stake in MidOcean Energy for $500 million, its first investment in liquefied natural gas as the company seeks to diversify beyond its core oil business