00:00 The global oil prices that we have seen in the past
00:06 are pushing Saudi Arabia to the quarter-final of 2023
00:12 and the first half of this year.
00:14 Let's talk about the figures that the currency has achieved
00:18 in the past period.
00:20 We are talking about the profit that has been receded by 38%.
00:25 But based on the previous expectations
00:27 that we had expected in the past period,
00:30 the company recorded around 112 billion Riyals and 800 million Riyals
00:36 and exceeded 30 billion dollars in terms of the quarter-final profits
00:41 for the second quarter of this year.
00:43 The profits for the dollar, we were talking about this level,
00:47 are 30 billion and approximately 100 million dollars.
00:51 The previous estimates were 29 billion and 800 million dollars
00:57 for these levels that are achieved for the company's profits.
01:02 The free cash flows, we have seen,
01:04 have receded by 33% to 86 billion and 800 million Riyals.
01:09 But there were cash flows in the operating activities
01:13 that were recorded in the second quarter
01:15 of the year with 126 billion Riyals.
01:18 We have seen these cash flows throughout the past period.
01:23 The activity has not decreased
01:25 according to the company's statements,
01:27 despite the wide pressure that we have seen
01:30 from the oil prices and the weak and weak profits
01:33 of the chemical and recycling industries.
01:35 This time, we have the first distribution of profits
01:39 related to performance in the third quarter,
01:42 which is estimated at 37 billion Riyals for Saudi Arabia.
01:46 The distribution of profits will be in the next six seasons,
01:50 in the third quarter of this year.
01:52 In contrast, the company had a distribution of basic profits
01:56 from the first quarter of the year of 73 billion and 200 million Riyals,
02:01 which is equivalent to 19 billion and 500 million dollars
02:05 in the US, with an increase of 4% for these distributions.
02:09 This will be paid in the third quarter of the current year.
02:14 According to the latest statements of the CEO of Aramco,
02:18 the results reflect the company's flexibility
02:20 in adaptation during the market fluctuations that we have seen,
02:23 whether in terms of the decline in oil prices,
02:27 which has been under pressure since the beginning of the year 2023.
02:30 We have seen this great pressure on oil prices,
02:34 specifically during the past period
02:37 or during the first half of 2023.
02:41 The average price of oil in the second quarter
02:44 was around $78.80.
02:47 The second quarter of the previous year,
02:50 which is why we have seen this,
02:52 is perhaps the opposite of the pressure on profits
02:55 compared to the second quarter of 2022.
02:59 In terms of Aramco's revenue,
03:01 it was around $113.20.
03:05 The main spending of the company
03:08 was more than 9%
03:11 to reach 39.2 billion Riyals
03:14 in the second quarter of 2023.
03:19 These numbers were recorded by Aramco,
03:23 in terms of energy sector,
03:25 but the impact of oil prices and its decline
03:27 had an impact on the results of the second quarter
03:29 and the first half of this year.
