Saudi Aramco Q2 operating cash flow hits $25.4 billion, gearing rises to 6.2%, declares $21.9 billion base
Saudi Aramco reported second-quarter operating cash flow of $25.4 billion, with its debt-to-asset ratio rising to 6.2% from 4.8% in the first quarter. The company declared a base dividend of $21.9 billion, payable over the next three months. The US-Iran conflict, which disrupted global oil supplies for over five months, lifted oil prices and boosted profits for energy majors. Aramco maintained export capacity of 7 million barrels per day via its East-West pipeline, bypassing the Strait of Hormuz. Global oil losses exceeded 2.6 billion barrels, with a net loss of about 1.8 billion barrels.
Operating cash flow was $25.4 billion, while the debt-to-asset ratio rose to 6.2% in the second quarter from 4.8% in the first quarter. The financial results show that the US-Iran conflict drove up global oil prices, significantly boosting profit levels for energy giants.
The US-Iran conflict, which has lasted more than five months, has caused disruptions to global oil supply. Saudi Aramco has used its East-West pipeline to bypass the Strait of Hormuz, maintaining an export capacity of 7 million barrels per day. Global losses exceeded 2.6 billion barrels of oil, with a net loss of approximately 1.8 billion barrels.
Other energy companies also reported high profits, including Chevron and ExxonMobil. Brent crude oil prices edged up to $84.79 per barrel. Saudi Aramco's board declared a base dividend of $21.9 billion for the second quarter, to be paid over the next three months.
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The event has a measured impact on 1 industry. The strongest current signal is positive for Oil & Gas Exploration, with intensity 85/100 and 90% confidence over a short term horizon.
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