info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

Saudi Aramco’s Gains Declined by 30 Percent in Initial Months of 2023

By Shubhendra Anand , 18 September, 2023

The world's largest oil producer, Saudi Aramco, has released the results from the second quarter and half year of 2023. The gains have dropped by 30 percent in the initial six months of 2023. The prices of crude oil have declined due to geopolitical reasons in 2022.

The company has enabled low-cost production and high supply reliability with solid profitability. Saudi Aramco reported a total income of USD 62 billion for the first quarter of 2023. For the first quarter of 2023, the company's net income was USD 30.1 billion, and the cash flow from the operating activities made up to USD 33.6 billion. The company's CEO views its strong results reflected from its caliber and strength to blend in through the market cycles. The company continues to depict its ability, from long-time experience, to fulfill the customers' needs. He also added that the company maintained its status as a company spending expenditures heavily with a target to enhance its oil and gas productions.

Based on the data released by the company recently, the average realized crude oil per price per barrel is around USD 78.8 million, whereas it was 113.2 million in 2022. The company also maintained spending on the downstream business, such as a petrochemical project, and expenditure of USD 11 billion on the expansion of the SATORP refinery with the total energies for future needs, among others. According to the reports released by Saudi Aramco, the downstream progress plan advances with the construction, engineering, and others for USD 11 billion contract for the Amiral petrochemicals complex. Amid all these circumstances, the CEO of Saudi Aramco announced that to keep the sustainable and progressive dividend for their shareholders to remain stable.

Down but still high

SAUDI-ARMACO-SECOND.jpg

Latest News

2025.png
Honda and Renesas Collaborate for Next-Gen Software-Defined Vehicles in 2025

In January 2025, Honda Motor Co., Ltd. and Renesas Electronics Corporation declared a strategic collaboration to create a high-performance system on a chip (SoC) designed for Software Defined Vehicles (SDVs). This cooperation is intended to bolster…

Read More

2025.png
NVIDIA's Mega Omniverse Master Plan: Revolutionizing Robotics and AI by 2025

 In 2025, NVIDIA is set to transform AI and robotics with its Mega Omniverse Blueprint, a framework for designing, simulating, and optimizing robot fleets within the digital twins of industrial environments. This new initiative combines NVIDIA's…

Read More

Diseases.png
How Vaccines Helped Eradicate Deadly Diseases – A 2025 Breakthrough

Public health has benefited dramatically from vaccinations, which have helped completely eradicate or significantly lower the frequency of lethal illnesses. Vaccines will still be among the most potent weapons available in 2025 to stop global…

Read More

2025.png
Oil Prices Crash in 2025: Biggest Weekly Drop Amid Tariffs & Oversupply

Oil prices stay on track as United States (U.S.) sanctions on Canada and Mexico keep diverting the market and stable supply levels support a significant weekly decline in 2025. Reuters said this is the biggest weekly decline since October…

Read More

2025.png
Quadric and Denso Team Up to Progress Automotive AI Semiconductors for 2025

The automotive industry will benefit significantly from strategic partnerships in artificial intelligence (AI) and its use in cars. AI integration into automobiles is projected to improve considerably in the year 2025 due to the formation of various…

Read More

Author Pic
Shubhendra Anand

Head Research