Saudi Aramco is pushing ahead with plans to pay out $75bn in dividends this year despite a sharp drop in earnings, as the state energy group bets on a rebound for the pandemic-hit oil sector.
Like its international peers, Saudi Aramco has had a brutal year as government-imposed lockdowns to curb the spread of coronavirus sent oil demand and prices tumbling.
The company on Sunday reported net income of $6.6bn in the three months to June 30, a 73 per cent fall from the same period a year ago.
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