Saudi Arabia’s oil company Aramco posted a drop in profit but boosted its dividend, highlighting the kingdom’s dependence on oil revenues
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Majority state-owned oil giant increased its dividend by more than half, helping to boost the government’s financesSaudi Aramco’s dividend commitment has been a key source of funding for the kingdom’s government and a bellwether for energy investors.Saudi Arabia’s national oil company posted a 38% drop in quarterly profit due to lower energy prices and production cuts, but boosted its dividend by more than half—highlighting the kingdom’s dependence on oil revenues.
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