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RIYADH: As oil prices trade at levels around or above $100, Saudi Aramco will pay more taxes and royalties to the government.
In a media briefing on Sunday, Ziad Al-Murshed, acting line head of finance at Aramco, explained how high oil prices will impact the company.
“With prices of $70 our royalty is 15 percent, one five. For every dollar above $70 a barrel the royalty kind of increases for that portion,” he said.
Nevertheless, Aramco was able to maintain strong results last year with cash flows rising by 83 percent.
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