Saudi Arabian oil company Saudi Aramco announced today the financial results for the first quarter of this year 2023 that net income amounted to 119.5 billion riyals (31.9 billion US dollars), (first quarter 2022: Net cash generated from operating activities amounted to SAR 148.0 billion, USD 39.5 billion), Net cash generated from operating activities amounted to SAR 148.6 billion (USD 39.6 billion), (first quarter 2022 amounted to SAR 143.3 billion, USD 38.2 billion), that free cash flows amounted to SAR 115.9 billion (USD 30.9 billion), (first quarter 2022 amounted to SAR 114.9 billion, USD 30.6 billion), and the indebtedness ratio amounted to -10.3% as of March 31, 2023, compared to -7.9% at the end of 2022, the company paid in the first quarter dividends of 73.2 billion riyals (19.5 billion US dollars) for the fourth quarter of 2022, an increase of 4% over the previous quarter, and will be paid in the quarter The second quarter of 2023, dividends of 73.2 billion riyals (19.5 billion US dollars) for the first quarter of 2023.

The company intends to adopt a mechanism for performance-related dividends, in addition to basic dividends.the Extraordinary General Assembly also approved the granting of free shares at the rate of one share for every ten owned. major investments are working to promote the strategic expansion of the refining, chemicals and marketing sector in major global markets. it is expected that the IKTVA program agreements worth about 27.0 billion riyals (7.2 billion US dollars) will enhance the efficiency of the supply chain, and that the agreement with the company "Linda engineering" to develop a new ammonia cracking technology supports progress in low-carbon energy solutions.

Amin Hassan Al Nasser, president and Chief Executive Officer of Saudi Aramco, said: "the results reflect Saudi Aramco's continued high reliability, focus on cost and ability to respond to market conditions.we have achieved strong cash flows while further strengthening the company's financial position, and in furtherance of our commitment to maximize shareholder value in the long term, we also announce our intention to adopt a mechanism for distributing performance-related dividends, in addition to the core profits currently distributed by the company.