BRIEF-Saudi Aramco Board Declares Q4 Cash Dividend Of $19.5 Billion

SAUDI ARABIAN OIL CO: * BOARD DECLARED Q4 CASH DIVIDEND OF $19.5 BILLION, AN INCREASE OF 4.0% COMPARED TO Q3 2022, IN LINE WITH AIM TO DELIVER A SUSTAINABLE AND PROGRESSIVE DIVIDEND

* BOARD ALSO RECOMMENDS DISTRIBUTION OF BONUS SHARES TO ELIGIBLE SHAREHOLDERS * IN 2022, AVERAGE HYDROCARBON PRODUCTION WAS 13.6 MILLION BARRELS OF OIL EQUIVALENT PER DAY (MMBOED), INCLUDING 11.5 MILLION BARRELS PER DAY (MMBPD) OF TOTAL LIQUIDS

* CAPITAL EXPENDITURE INCREASED 18.0% YEAR-ON-YEAR, AS PROGRESS CONTINUES ON MULTIPLE FRONTS TO DELIVER RELIABLE, AFFORDABLE AND MORE SUSTAINABLE ENERGY * DELIVERED CRUDE OIL AND OTHER PRODUCTS WITH 99.9% RELIABILITY IN 2022

* FY RECORD FREE CASH FLOW $148.5 BILLION (2021: $107.5 BILLION) * GEARING RATIO -7.9% AS AT DECEMBER 31 (END OF 2021: 12.0%)

* Q4 2022 NET INCOME IN LINE WITH ANALYST CONSENSUS, EXCLUDING CERTAIN NON-CASH ITEMS OF C.$3.3 BILLION * TO INCREASE ARAMCO'S CRUDE OIL MSC TO 13.0 MMBPD BY 2027

* CONSTRUCTION AND ENGINEERING ACTIVITIES FOR MARJAN AND BERRI CRUDE OIL INCREMENTS CONTINUE TO PROGRESS * FY TRACK RECORD OF RELIABILITY CONTINUES, WITH 99.9% SUPPLY RELIABILITY

* FOCUS ON LOWER-CARBON ENERGY SOLUTIONS WITH LAUNCH OF $1.5 BILLION SUSTAINABILITY FUND, AS WELL AS ONE OF WORLD'S LARGEST PLANNED CARBON CAPTURE, STORAGE HUBS * ZULUF CRUDE OIL INCREMENT EXPECTED TO PROVIDE A CENTRAL FACILITY TO PROCESS A TOTAL OF 600,000 BPD OF CRUDE OIL FROM ZULUF FIELD BY 2026

* CONSTRUCTION ACTIVITIES ARE CONTINUING ON DAMMAM DEVELOPMENT PROJECT, EXPECTS TO ADD 25,000 BPD AND 50,000 BPD OF CRUDE OIL BY 2024 & 2027, RESPECTIVELY Further company coverage: