The
These results highlight the Company's financial and operational strength, despite market volatility and the impact of COVID-19 on the global economy.
Commenting on the results, Aramco President & CEO
'We saw early signs of a recovery in the third quarter due to improved economic activity, despite the headwinds facing global energy markets. Meanwhile, we maintained our commitment to shareholder value by declaring a dividend of
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'We continue to adopt a disciplined and flexible approach to capital allocation in the face of market volatility. We are confident in
'We are making progress on multiple fronts, including the world's first blue ammonia shipment for zero-carbon power generation in
Financial Highlights
Aramco continues to demonstrate its strength and resilience across economic cycles, navigating challenging market conditions to record net income of
Aramco declared a dividend of
Q3 capital expenditure was
Operational Highlights
Total hydrocarbon production for the first nine months of 2020 was 12.4 million barrels per day of oil equivalent, of which 9.2 million barrels per day was crude oil.
The Company delivered crude and other products with 100% reliability in the third quarter of 2020, continuing its strong track record of supply reliability.
Aramco achieved a record historic single-day natural gas production of 10.7 bscfd on
Successful exploration activities resulted in two successful unconventional field discoveries in the third quarter, both in the northern part of the Kingdom; one field with both oil and gas reservoirs and another field with a gas reservoir.
The Company's Khurais oil facility was recognized by the
The Downstream business continues to focus on enhancing integration and creating growth opportunities across the hydrocarbon value chain. Following the successful close of the SABIC transaction, the third quarter of 2020 marks the first full quarter in which SABIC's financials are incorporated into
Aramco continued to demonstrate its focus on sustainability with the world's first cargo of high-grade blue ammonia, which was shipped from
COVID-19 Update
Aramco remains committed to the safety of its people, establishing protocols to monitor and limit the spread of COVID-19 including medical support and monetary donations.
The Company launched a 'Device Donation Initiative' to help thousands of students' access virtual schooling. It donated thousands of new devices for underprivileged students and encouraged employees to donate used computers to support the campaign.
Further information on
Contact:
Email: domestic.media@aramco.com
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