2020 Saudi Arabian Oil Company Third quarter interim report For the three-month and nine-month periods ended September 30, 2020
Saudi Arabian Oil Company 1 Third quarter and nine months interim report 2020 Aramco at a glance Third quarter 2020 Financial highlights Net income EBIT* Earnings per share Net cash provided by (billion) (billion) (basic and…
2 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 Key results CEOs statement Financial results Aramco President & CEO Amin H. Nasser Third quarter ended September 30 SAR USD* We saw early signs of a…
Saudi Arabian Oil Company 3 Third quarter and nine months interim report 2020 Third quarter highlights The third quarter of 2020 saw early signs of a recovery in global Downstream energy markets as some governments across the world…
4 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions unless otherwise stated Financial performance Summary of financial performance Third quarter Nine months SAR USD* SAR USD* % %…
Saudi Arabian Oil Company 5 Third quarter and nine months interim report 2020 All amounts in millions unless otherwise stated Upstream financial performance Third quarter Nine months SAR USD* SAR USD* % % All amounts in…
Condensed consolidated interim financial report For the three-month and nine-month periods ended September 30, 2020 (Unaudited)
Contents Page Independent auditors review report 8 Condensed consolidated statement of income 9 Condensed consolidated statement of comprehensive income 10 Condensed consolidated balance sheet 11 Condensed consolidated…
Saudi Arabian Oil Company 9 Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated Condensed consolidated statement of income SAR USD* Nine Nine Nine Nine 3rd quarter…
10 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated Condensed consolidated statement of comprehensive income SAR USD* Nine Nine Nine Nine…
Saudi Arabian Oil Company 11 Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated Condensed consolidated balance sheet SAR USD* September 30, December 31, September 30,…
12 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated Condensed consolidated statement of changes in equity SAR USD* Shareholders' equity…
Saudi Arabian Oil Company 13 Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated Condensed consolidated statement of cash flows SAR USD* Nine Nine Nine Nine rd rd…
14 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated Notes to the condensed consolidated interim financial report 1. General information The…
Saudi Arabian Oil Company 15 Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated (ii) LPGs and certain other products were added to the price equalization mechanism to…
16 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated 3. Fair value estimation Fair value is the price that would be received to sell an asset…
Saudi Arabian Oil Company 17 Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated The changes in Level 3 investments in securities and other current assets for the…
18 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated The purchase price amount is to be paid over several installments pursuant to a seller…
Saudi Arabian Oil Company 19 Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated Information by segments for the three-month period ended September 30, 2020 is as…
20 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated 6. Property, plant and equipment Refinery and Gas and General Crude oil petrochemical…
Saudi Arabian Oil Company 21 Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated 7. Intangible assets Exploration Franchise/ and Brands and customer Computer Goodwill…
22 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated The reconciliation of tax charge at the Kingdom statutory rates to consolidated tax and…
Saudi Arabian Oil Company 23 Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated 10. Borrowings September 30, December 31, 2020 2019 Non-current: Deferred…
24 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated 3rd quarter 2019 Upstream Downstream Corporate Total Crude oil 156,849 6,293 163,142…
Saudi Arabian Oil Company 25 Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated (b) Sadara Chemical Company (Sadara) In March 2020, Saudi Aramco and Dow Chemical…
26 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated (b) Balances September 30, December 31, 2020 2019 Joint ventures: Other assets and…
Saudi Arabian Oil Company 27 Third quarter and nine months interim report 2020 All amounts in millions of Saudi Riyals unless otherwise stated 18. Dividends Dividends declared and paid on ordinary shares are as follows: SAR per…
28 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions unless otherwise stated Non-IFRS measures reconciliations and definitions This Interim Report includes certain non-IFRS financial…
Saudi Arabian Oil Company 29 Third quarter and nine months interim report 2020 All amounts in millions unless otherwise stated Free cash flow Aramco uses free cash flow to evaluate its cash available for financing activities,…
30 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 All amounts in millions unless otherwise stated Earnings before interest, income taxes and zakat (EBIT) Aramco believes EBIT provides useful information…
Saudi Arabian Oil Company 31 Third quarter and nine months interim report 2020 Terms and abbreviations Currencies Miscellaneous abbreviations Technical terms SAR/Riyal CO2 Condensate Saudi Arabian riyal Carbon dioxide Light…
32 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 Glossary Bylaws Regulated Gas Products The Bylaws of the Company, approved Gas hydrocarbons which are subject to the by Council of Ministers Resolution…
Saudi Arabian Oil Company 33 Third quarter and nine months interim report 2020 Disclaimer This Interim Report contains, and political and social instability and unrest Such forward-looking statements are based management may make,…
34 Saudi Arabian Oil Company Third quarter and nine months interim report 2020 a decrease in economic activity and A reconciliation of non-IFRS measures is About Aramco demand for Saudi Aramcos products included in Non-IFRS…
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