Saudi Arabia’s state-owned oil giant Aramco has reported a $106.25 billion profit in 2024, down 12% from the prior year on lower energy prices

Saudi state oil producer Aramco reported a decline in net profit in 2024 and warned of a dividend cut. Lower oil prices hit the company's net profit last year as crude production around the world increased and demand slowed.

Oil giant Saudi Aramco posted a drop in annual profits on Tuesday as lower prices and volumes hit the lynchpin of the kingdom's ambitious economic reform plans.The world's biggest crude exporter said profits were down more than 12 percent to $106.

Aramco reported a drop in 2024 profits and announced a 30% reduction in total dividends for 2025, impacting Saudi Arabia's finances.

Saudi Arabia’s state-owned oil giant reported a $106.25 billion profit in 2024, down 12% from the prior year as the lower prices now squeeze the kingdom’s development plans.

Saudi oil giant Aramco said on Tuesday it expects to declare total dividends of $85.4 billion in 2025, a near 30% drop from payouts in 2024 as it faced lower sales and higher costs.

Saudi Arabia’s national oil company said it anticipates lower shareholder returns this year after 2024 net profit fell to $106.2 billion from $121.3 billion in 2023.