Saudi Aramco is one of the world’s largest integrated oil and gas companies; its upstream operations manages Saudi Arabia's unique hydrocarbon reserve base, optimizing production and maximizing long-term value.
It also operates a strategically integrated global downstream business.
Headquartered in the city of Dhahran, the company operates within the Kingdom and worldwide, and employs more than 70,000 people.
Full-year 2023 highlights
Financial
SAR454.8bn
$121.3bn
Second highest ever net income
SAR379.5bn
$101.2bn
Free cash flow*
SAR366.7bn
$97.8bn
Dividends paid (up 30% y/y)**
Operational
12.8mmboed
Hydrocarbon production
10.7 (kg of CO2e/boe)
Upstream carbon intensity
99.8%
Supply reliability
* Non-IFRS measure: Please refer to Non-IFRS measures reconciliations and definitions for further details.
** Board declares 4% y/y increase in base dividend for Q4 2023 to reach SAR 76.1bn ($20.3bn), to be paid in Q1 2024, and 9% increase in performance-linked dividend distribution of SAR 40.4bn ($10.8bn), compared to two payments of SAR 37.0bn ($9.9bn) in H2 2023
March 11, 2024
FY 2023 results announcement
Full-year 2023 results
“Our strong results reflect our resilience and ability to adapt through market cycles. We continue to demonstrate our long-standing ability to meet the needs of customers around the world with high levels of reliability. For our shareholders, we intend to start distributing our first performance-linked dividend in the third quarter.”
Amin H. Nasser, President and Chief Executive Officer of Aramco
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CEO video remarks: Full-year 2023 results