The world's biggest oil producer, Saudi Aramco, is no longer the world's most profitable company, after net income plunged by almost half last year due to the pandemic. But the oil giant says it still plans on doling out tens of billions of dollars in dividends despite the plunge in profits. Most of this money will go to the Saudi government, which is the company's largest shareholder. And Aramco says global demand for oil is rising, so it expects earnings to get a boost this year. For more on this, Ellen Wald joined us from Jacksonville, Florida. She's the president of Tranversal Consulting and author of the book Saudi Inc.
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