Saudi Arabian oil giant Aramco has reported third-quarter profits of $27.5 billion, down about 15% from last year as low oil prices ate into its revenues.

Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on Tuesday, citing prices which have stayed low despite production cuts and war in the Middle East. Yet despite lower production,

Saudi Aramco’s Q3 profit fell 15.4% to $27.6 billion due to lower oil prices, yet it maintained a $31.1 billion dividend, backing Vision 2030 and economic stability.

Saudi Arabian oil giant Aramco reported third-quarter profits of $27.5 billion on Tuesday, down about 15% from last year as low oil prices ate into its revenues. Aramco had revenues of $111.1 billion over the quarter,

The oil company said lower oil prices and refining margins pushed down profit, adding it plans to pay dividends of $31.05 billion.

Saudi oil giant Aramco on Tuesday reported a 15.4% drop in third-quarter profit due to lower crude prices and weaker refining margins but still maintained its generous dividend at $31.1 billion for the quarter.

Saudi state oil giant Aramco reported a 15.4% drop in net profit in the third-quarter on the back of “lower crude oil prices and weakening refining margins,” but maintained a 31.05 billion dividend. This is a breaking news story.