Cash flow from operational activities has reduced by 5.4% in relation to last year, up to $ 135.7 billion, free cash flow sank by 15.7% to $ 85.3 billion.
One of the largest oil companies in the world of Saudi Aramco reported that in 2024 its net profit cost $ 106.2 billion, 12.4% less than 2023, reports Interfax-Ukraine.
It was noted that cash flow from operating activity was reduced by 5.4% in relation to last year, up to $ 135.7 billion, free cash flow reduced by 15.7% to $ 85.3 billion.
The reduction in revenue is largely due to decreased income and other income related to sales, higher operating costs, as well as a reduction in financial and other income that causes a reduction in interest in receiving and lack of income associated with the prepayment of delayed salary last year. This is partially compensated by lowering the income tax.
It is reported that the income dropped by 2.9% to $ 480.4 billion, and the cost increased by 3.9% to $ 273.9 billion.
Capital investments cost $ 53.3 billion, rising from $ 49.7 billion following last year’s results. The company predicts 2025 investment in fixed assets for $ 52-58 billion that does not include $ 4 billion for project financing.
The average day -to -day production of hydrocarbons in 2024 reached 12.4 million barrels of oil equivalent (against 12.8 million b/s in 2023), including oil -10.3 million b/s (compared to 10.7 million b/s).
“Company reserve capacities provide flexibility, which helps to satisfy the potential growth of oil demand. If it is necessary to use available reserve capacities at 1 million barrels per day, can bring an additional $ 12 billion of operating cash flow based on the average price of 2024,” the company said.
Aramco emphasized that in 2024 they continued to work on increasing gas manufacture capacity in accordance with the approach. As reported, the company wants 2030 to increase gas production by more than 60% compared to the 2021 level.
Saudi Aramco also announced the increase in major dividends each fourth quarter of 4.2% to $ 21.1 billion, while the results (dividend associated with performance) dropped to $ 0.2 billion (from $ 10.8 billion). In 2024, he paid a total of $ 124.2 billion in the form of dividends, which is 27%higher than last year.
This year, the company expects to pay $ 84.6 billion major dividends.
Remember that Saudi Arabia has decided to increase quotes for European and Asian consumers. The cost of Arab light, the main variety provided in Asia, will increase by $ 2.4 per barrel from March.
Earlier it was reported that Saudi Arabia’s revenue from oil exports had dropped to the lowest level more than three years due to weak demand growth, indicating pressure on oil prices.
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Source: korrespondent
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