Aramco CEO Amin Nasser hailed his firm's “flexibility and agility”
Aramco rolls with the Covid punches
The Saudi heavyweight posts an eye-watering drop in profits but pays its dividends and remains in the black
State-controlled Saudi Aramco posted financial results for 2020 that illustrate the robustness of its operations, despite giving up—at least for now—its title as the world’s most profitable company to tech giant Apple. And it is already making plans to implement its pandemic-interrupted production growth strategy. During a 22 March earnings call, Aramco CEO Amin Nasser hailed the “flexibility and agility” of his firm in the wake of the “unprecedented” challenges posed by Covid-19. Despite a $39bn year-on-year reduction in net income, Aramco posted a $49bn profit, fulfilled its $75bn dividend obligation to shareholders and ended 2020 with nearly $8bn more cash in the bank than it had at the s
Also in this section
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
