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The Saudi government’s oil income almost doubled in the second quarter even as state-controlled producer Aramco held dividends unchanged.  Aramco pays a royalty of 80 per cent on Brent crude prices above $100 a barrel, and 45 per cent when oil’s at $70 to $100.  Aramco made payments to the government - its 94 per cent shareholder - of more than $65 billion in the period, up from $35 billion a year earlier.  Saudi Arabia’s crude is still the major source of government revenue and soaring prices are set to give the country its first budget surplus in almost a decade.

Saudi oil windfall tops $65 billion even without dividend hike

The Saudi government’s oil income almost doubled in the second quarter even as state-controlled producer Aramco held dividends unchanged.  Aramco pays a royalty of 80 per cent on Brent crude prices above $100 a barrel, and 45 per cent when oil’s at $70 to $100.  Aramco made payments to the government – its 94 per cent shareholder – of more than $65 billion in the period, up from $35 billion a year earlier.  Saudi Arabia’s crude is still the major source of government revenue and soaring prices are set to give the country its first budget surplus in almost a decade.

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