Saudi Aramco Pledges Billions In Dividends Despite Profit Drop

Aramco will pay out almost £30bn in dividends for the third quarter, boosting 90 percent owner Saudi Arabia’s coffers Saudi Aramco (Aramco) has sustained hefty payouts to its investors, including the country’s government which owns 90 percent of the oil giant, despite a sharp slide in profits. The world’s largest fossil fuel producer posted a 24 percent year-on-year dip in third quarter net profit, falling from $42.4bn (£34.4bn) to $32.6bn (£26.5bn).This follows lower oil production levels, with the country slashing…