Saudi state oil giant Aramco reported a 15.4% drop in net profit in the third-quarter on the back of "lower crude oil prices and weakening refining margins," but maintained a 31.05 billion dividend. Aramco's dividend includes a base payout of $20.

Saudi oil giant Aramco on Tuesday reported a 15.4% drop in third-quarter profit due to lower crude prices and weaker refining margins but still maintained its generous dividend at $31.1 billion for the quarter.

Saudi Arabian oil giant Aramco reported third-quarter profits of $27.5 billion on Tuesday, down about 15% from last year as low oil prices ate into its revenues.

Saudi Arabian Oil Company (Aramco) says its net income dropped by 11 percent to $83.9 billion in nine months, compared to $94.5 billion in the corresponding period.

Saudi Aramco’s Q3 profit fell 15.4% to $27.6 billion due to lower oil prices, yet it maintained a $31.1 billion dividend, backing Vision 2030 and economic stability.

Saudi oil giant Aramco on Tuesday reported a 15.4 per cent drop in third-quarter profit due to lower crude prices and weaker refining margins, but maintained its generous dividend at $31.1bn for the quarter.

Saudi Aramco will have a crucial decision to make early next year: Cut its $31 billion quarterly dividend and risk worsening the kingdom’s budget deficit, or keep borrowing to maintain the payout.