Saudi Aramco declared to pay $ 75 billion to its shareholders

Immediately after a conference where the company’s economic results for the third quarter were announced, Saudi Aramco CEO Amin Nasser declared that the world’s largest oil exporter is not going to abandon plans to pay $ 75 billion of dividends to shareholders for 2020.

This decision was made despite the instability in the international hydrocarbon market and the real threat of another drop in oil prices due to the prospect of re-introduction of strict anti-coronavirus restrictions in the world’s largest economies.

The company’s Board of Directors has yet to say its opinion on this issue, but there is little doubt about its position. The largest shareholder of Saudi Aramco is the state, and the $ 75 billion dividend will greatly help Saudi Arabia balance the state budget of the Kingdom, 80 percent of which is generated from the sale of oil.