BAKU, Azerbaijan, May 25
By Leman Zeynalova – Trend:
Throughout the pandemic, Saudi Aramco has benefited extensively from investments it has made in multiple 4IR solutions, including Artificial Intelligence, Industrial Internet of Things (IIoT) devices, digital twin technology, Virtual Reality (VR), robotics and Big Data analytics, the company told Trend in response to a question about the impact of COVID-19 on its operations worldwide.
“In January, we announced the launch of one of the world’s most powerful supercomputers, Dammam 7, which will significantly enhance our exploration and development capabilities,” said the company.
Saudi Aramco saw a 30 percent year-on-year increase in net income to $21.7 billion and declaring a dividend of $18.8 billion to be paid in Q2. The results were underpinned by higher oil prices and an improved economic environment in the first three months of 2021.
Aramco demonstrated reliable upstream performance with an average total hydrocarbon production of 11.5 million barrels per day of oil equivalent in the first quarter of 2021, including 8.6 million barrels per day of crude oil.
The Company maintained its exceptional track record as a global energy supplier, achieving 100% reliability in its deliveries to customers during the first quarter.
Cash flow from operating activities and free cash flow* was $26.5 billion and $18.3 billion respectively in the first quarter, while first quarter capital expenditure stood at $8.2 billion.
Aramco's gearing ratio* remained unchanged at 23.0% on March 31, 2021, compared to December 31, 2020.
Aramco declared a dividend of $18.8 billion for the first quarter, to be paid in Q2 2021.
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