, March 4 -- Saudi Arabia's state oil giant, Aramco, has announced a decline in its net profit for 2024, reporting $106.2 billion, down from $121.3 billion in 2023.

The company also revealed a significant reduction in its dividend payouts for 2025, expecting total distributions of $85.4 billion, compared to $124.2 billion in 2024.

Aramco announces $121 billion profit for 2023, down from 2022 record

The oil producer disclosed that its base dividend for the fourth quarter of 2024 would rise to $21.1 billion, while its performance-linked payout would be significantly lower at just $200 million.

This marks a steep decline from the previous quarter, when the company had distributed a base dividend of $20.3 billion alongside a performance-l...