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● ● ● Press Release aramco Aramco announces second quarter and half - year 2021 results Q2 net income rises 288 % and free cash flow up by 270 % YoY as Company delivers key milestones Net income : $ 25.5 billion ( Q2 ) / $ 47.2 billion ( H1 ) Cash flow from operating activities : $ 30.1 billion ( Q2 ) / $ 56.5 billion ( H1 ) Free cash flow * : $ 22.6 billion ( Q2 ) / $ 40.9 billion ( H1 ) Gearing ratio * : 19.4 % ( June 30 ) compared to 23 % at end of 2020 Q1 dividend of $ 18.8 billion paid in the second quarter ; Q2 dividend of $ 18.8 billion to be paid in the third quarter Dhahran , Saudi Arabia , August 8 , 2021 – The Saudi Arabian Oil Company ( “ Aramco " or " the Company " ) today announced its second quarter 2021 financial results , reporting a 288 % increase in net income from the same quarter of last year to $ 25.5 billion and declaring a dividend of $ 18.8 billion . The Company's net income for the first half of the year was $ 47.2 billion , representing a 103 % increase over the same period in 2020 . The results were primarily driven by higher oil prices and a recovery in worldwide demand , supported by the global easing of COVID - 19 restrictions , vaccination campaigns , stimulus measures and accelerating activity in key markets . Commenting on the results , Aramco President & CEO Amin H. Nasser , said : " Our second quarter results reflect a strong rebound in worldwide energy demand and we are heading into the second half of 2021 more resilient and more flexible , as the global recovery gains momentum . While there is still some uncertainty around the challenges posed by COVID 19 variants , we have shown that we can adapt swiftly and effectively to changing market conditions . " Our historic $ 12.4 billion pipeline deal was an endorsement of our long - term business strategy by international investors , representing significant progress in our portfolio optimization program . Our landmark $ 6 billion Sukuk reinforced our robust balance sheet , further diversifying our funding sources and expanding our investor base . And , once again , we delivered a dividend of $ 18.8 billion for our shareholders . " We continue to move forward on a number of strategic programs , which focus on sustainability and low - carbon fuels , maximizing the value of our assets , and advancing our downstream integration and expansion journey . For all these reasons and more , I remain extremely positive about the second half of 2021 and beyond . "