Saudi Arabian Oil Company (Saudi Aramco) revealed on Tuesday that its net income in the full fiscal year 2024 stood at $106.2 billion, declining 12% from the same timeframe in 2023. Meanwhile, total revenue for the year that ended December 31, 2024, came in at $436.6 billion, down around 1% on an annual basis, and earnings per share were at $0.43, falling some 14%.

The company's Board declared a base dividend of $21.1 billion for the fourth quarter of fiscal year 2024, a 4.2% increase year over year. It will be paid in the first quarter of 2025.

"Our strong net income and increased base dividend illustrate Aramco’s exceptional resilience and ability to leverage its unique scale, low cost, and high levels of reliability to deliver industryleading performance for our shareholders and customers. Global oil demand reached new highs in 2024, and we expect further growth in 2025," CEO Amin Nasser said.