Saudi Aramco
Saudi Aramco, the world’s largest oil exporter, is increasing its shareholder payout as it introduces a performance-linked dividend.
The total payout, including the performance-linked component, will amount to $29.4 billion. It will incorporate an increase from the $18.8 billion regular dividend distributed a year ago.
In a statement, Saudi Aramco revealed that its operating income decreased from 324 billion riyals to 213 billion riyals ($57 billion) compared to the previous year.
Aramco, in line with other global oil producers, is enhancing shareholder payouts even in the face of declining profits.
Major oil companies have witnessed reduced profits due to the retreat in crude prices from the highs seen the previous year. This period witnessed upheaval in commodity markets caused by Russia’s invasion of Ukraine.T
The Saudis have been advocating for an extension of output cuts throughout the remainder of the year.
Aramco has been maintaining lower crude production levels, with the kingdom implementing an additional, unilateral reduction of 1 million barrels per day.
Following the announcement by Saudi Arabia last week regarding the extension of this cut into September, and the possibility of further deepening if necessary, oil prices experienced an increase.
Indian actress files a complaint against film critic
Meanwhile, Indian actress Celina Jaitly has filed a complaint with the National Commission of Women (NCW) of India against Umair Sandhu, a Pakistani film critic who accused her of indecent affair with two showbiz stars.
Jaitly said she has been facing accusations’ from allegations made by a self-proclaimed “journalist and film critic” Umair Sandhu, who claims to be from Pakistan.
In an interview with India Today, Jaitly stated, “This person’s derogatory portrayal of me has subjected me to verbal abuse, humiliation, and widespread negative attention, regardless of the media outlet’s stance.”
Jaitly is a superstar of showbiz in India with a worldwide fame.
