Aramco Posts Decline in Q2 Profit

Saudi Aramco reported a net income of $29 billion for the second quarter of the year, down from $30 billion a year earlier. Half-year profits this year were also slightly lower than the 2023 result. Free cash flow also shrank, from $23.1 billion in the second quarter of 2023 to $18.96 billion in the second quarter of this year. Dividends paid, however, were ramped up from $19.5 billion last year, to $31 billion this year. “We have delivered market-leading performance once again, with strong earnings and cash flows in the first half of the…