Commenting on the results, Saudi Aramco President & CEO Amin H. Nasser, said:

“2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances – some

planned and some not – the world was offered unprecedented insight into Saudi Aramco’s agility

and resilience.”

“Our unique scale, low costs, and resilience came together to deliver both growth and worldleading returns, while also maintaining our position as one of the world’s most reliable energy


“These strengths, combined with a strong balance sheet and a disciplined and flexible approach

to capital allocation, allow us to underpin our goal of sustainably growing free cash flow to

support dividends to our shareholders despite continued volatility of markets.”

“The recent COVID-19 outbreak and its rapid spread illustrate the importance of agility and

adaptability in an ever-changing global landscape. This is central to Saudi Aramco’s strategy and

we will ensure that we maintain the strength of our operations and our finances. In fact, we have

already taken steps to rationalize our planned 2020 capital spending.”

“As the world deals with the difficult and dual challenge of satisfying demand for more energy

alongside responding to the rising desire for cleaner energy, I believe we are well positioned

given our oil production is among the least carbon intensive in the world.”

Source: Saudi Press Agency

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