00:00 So, what are the results of the leadership in the energy sector this time, Saudi Aramco,
00:07 which came with better results than expected, despite the decline we saw in the second quarter of this year.
00:14 But the distribution of the reward may be the magical solution for the balance of the balance sheet for Saudi Arabia.
00:23 Let's take a look at the details of this matter and therefore how the distribution was for Aramco.
00:29 First, the distribution in total during the second quarter of this year represents 29 billion and 300 million dollars.
00:38 As for these distributions, there were distributions related to performance, 6 quarters, and reached approximately 9.8 billion dollars.
00:47 As for the main distributions that the company announced since the beginning of its implementation, they were at 19.5 billion dollars.
00:55 As for these distributions, the government's share in Aramco reached approximately 98%.
01:02 90% is directly formed for the Saudi government and 8% for the sovereign investment fund.
01:09 Therefore, we notice that a third of Saudi government's oil income is stopped as for the results of Aramco.
01:17 Therefore, the magical distributions that we heard, and they are the biggest internationally, if we talk about these distributions,
01:24 we notice that Saudi Arabia is compensated for them, especially in its budget.
01:28 During the first half of this year, there was a deficit in the budget.
01:33 This is due to the decline of oil revenues by 17%.
01:37 Therefore, the deficit recorded approximately 2.2 billion dollars during this period.
01:44 These magical distributions, and we talked about their direct impact, since the Saudi government's share is 90% in Aramco,
01:53 we notice that this may turn into a deficit in the Saudi budget during 2023,
02:00 to close a total of 4.2 billion dollars for the estimates.
02:07 What we noticed in comparison to the results of Aramco's business with international energy companies,
02:14 we notice that their profits are still above the profits of international companies.
02:17 But the decline in profits was due to a number of factors, including oil prices,
02:22 which in average amounted to 80 dollars compared to the same period of the previous year, which was above 100 dollars during this period.
02:30 This put pressure on the company, in addition to the decline in production due to the Saudi contract with OPEC+ in the voluntary reduction agreement,
02:41 which also extended it to the end of September.
02:44 We notice that the profits of international companies, if we compare them to Aramco's distribution,
02:49 the largest share remains for Aramco.
02:51 We have Exxon Mobil with a total value of 3.7 billion dollars, BP with more than 1.1 billion dollars,
03:01 and Chevron with more than 200, almost 2.8 billion dollars, and 2 billion for Shell.
03:09 But it is clear that Aramco's distribution remains the largest in comparison to its global counterparts,
03:15 which amount to 29.3 billion dollars, and the share of the contributors remains at 46 percent.
03:26 The date of the investigation will be on September 10th.
