In fact, Aramco, together with ADNOC, the Abu Dhabi national oil company, calculates that they can take advantage of the pressure on Western companies.
“Against the backdrop of increased volatility in global markets, we remain focused on helping meet global energy demand,” said Aramco CEO Amin H. Nasser. he said in a Sunday note.
“We are investing long-term, expanding our oil and gas production capacity to meet projected growth in demand,” added Nasser.
But as gasoline prices have risen, contributing to rising inflation, Saudi Arabia has largely ignored Washington’s calls to speed up its program of gradual production increases agreed with OPEC and other oil producers last year. summer.
The company said it will keep its dividend for the quarter unchanged at $ 18.8 billion. Most of the money will go to the government, which owns nearly all of the shares in the company, which was listed on the Saudi Tadawul stock exchange in 2019.