RIYADH, Nov. 5 (Xinhua) -- Saudi Arabian Oil Company, commonly known as Saudi Aramco, reported on Tuesday a net income of 27.6 billion U.S. dollars for the third quarter (Q3) of 2024, down some 15 percent from the same period last year, amid low oil prices.
A report released by the oil giant said the figure "is in line with analyst consensus."
Meanwhile, the company's cash flow from operating activities rose to 35.2 billion dollars in the third quarter from 31.4 billion dollars in the same period last year, whereas free cash flow increased to 22.0 billion dollars from 20.3 billion dollars in 2023, the report showed.
The gearing ratio surged from minus 6.3 percent at the end of 2023 to 1.9 percent on Sept. 30, it showed.
The report also showed a Q3 2024 base dividend of 20.3 billion dollars and a performance-linked dividend of 10.8 billion dollars declared for distribution in the fourth quarter.
"Aramco delivered robust net income and generated strong free cash flow during the third quarter, despite a lower oil price environment. We also progressed our upstream developments, strengthened our downstream value chain, and advanced our new energies program as we continue to invest through cycles," said Amin H. Nasser, president and CEO of the company, in the report. ■
