Saudis Stop Disclosing Oil Revenue Following Aramco’s Listing
- Kingdom doesn’t want to give clues on Aramco’s dividend plans
- Country is relying on Aramco’s dividend to help boost economy
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Saudi Arabia has stopped disclosing projected revenue from oil following the listing of Aramco, as doing so could give clues about the state energy giant’s dividend plans.
The kingdom is relying on payouts from Aramco, the world’s biggest oil company, to help plug its budget deficit and bolster an economy that’s been hammered this year by coronavirus lockdowns and the crash in crude prices. The Dhahran-based firm sold shares for the first time in December 2019, though the government still owns around 98% of them.