Energy

CEO says oil giant can still meet dividend expectations

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Oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field.

Stanislav Krasilnikov | TASS via Getty Images

The chief executive of the world’s biggest oil company said Wednesday he believes it will still be able to meet dividend payout expectations after Saudi Arabia’s government announced plans to prioritize investments.

Crown Prince Mohammed bin Salman on Tuesday said that state-backed oil giant Saudi Aramco and petrochemical firm SABIC will fund the majority of a 5 trillion riyal ($1.3 trillion) private sector investment plan for economic diversification.

“We are very excited with the government’s announcement yesterday…



Source cnbc.com

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