Saudi state oil giant Aramco reported a net profit of 112.81 billion riyals ($30.07 billion) in the second quarter, marking a nearly 40% drop compared to last year, attributed to lower hydrocarbon prices. Despite this decline, the second-quarter profit exceeded analyst expectations of around $29.8 billion. The company cited lower crude oil prices and weakening refining and chemicals margins as the main factors behind the decrease in profitability. Aramco's CEO, Amin Nasser, highlighted the oil industry's resilience in economic challenges, citing robust global demand and signs of recovery in the aviation sector. The company is following its peers by raising dividend payouts, maintaining a $19.5 billion base dividend from the first quarter, and declaring a second-quarter dividend of the same amount.