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6/18, 2:43 PM (Source: TeleTrader)
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Aramco's CEO expects oil demand to recover in H2

Saudi Aramco's Chief Executive Amin Nasser (pictured) said on Thursday he expects the global oil demand will recover in the second half of 2020. Speaking in a phone call with reporters, he underlined that the negative developments regarding the oil market situation are in the past.

On the matter of paying out the company's dividends of $18.75 billion for the first quarter of 2020, Nasser explained that Aramco will be looking to use both cash and debt in the process, with bonds and bank loans as options for the latter.

Lastly, Nasser stressed the company's balance sheet is still strong, even with the acquisition of the Saudi Basic Industries Corporation (SABIC) taken into account.

Breaking the News / MS