Aramco CEO Amin Nasser hailed his firm's “flexibility and agility”
Aramco rolls with the Covid punches
The Saudi heavyweight posts an eye-watering drop in profits but pays its dividends and remains in the black
State-controlled Saudi Aramco posted financial results for 2020 that illustrate the robustness of its operations, despite giving up—at least for now—its title as the world’s most profitable company to tech giant Apple. And it is already making plans to implement its pandemic-interrupted production growth strategy. During a 22 March earnings call, Aramco CEO Amin Nasser hailed the “flexibility and agility” of his firm in the wake of the “unprecedented” challenges posed by Covid-19. Despite a $39bn year-on-year reduction in net income, Aramco posted a $49bn profit, fulfilled its $75bn dividend obligation to shareholders and ended 2020 with nearly $8bn more cash in the bank than it had at the s
Also in this section
12 November 2025
The November 2025 issue of Petroleum Economist is out now!
10 November 2025
The Russian firm made a significant attempt to expand overseas over the past two decades but is now trying to divest its global operations
10 November 2025
OPEC+ has proven to be astute at bringing back oil production, but mysteries around Chinese buying, missing barrels and oil-on-water have left the group in wait-and-see mode
7 November 2025
The Russian company’s German assets are under Berlin’s management and are exempt from sanctions, for now, but a permanent solution still needs to be found
