The CEO of Saudi Arabian Oil Company (Saudi Aramco), Amin H. Nasser, said that his company has developed strategies to ensure production and supply commitments to its worldwide customers as businesses across the world continue to face challenges over the coronavirus.

"The cornerstone of our company is energy production, reliable supply and our commitment to our customers, especially in such difficult times; therefore, we have developed emergency and prevention plans in all areas of our business to ensure the ongoing [operation] of our business so that we can meet the needs of our customers around the world from energy products," he said.

Nasser said that he has considered the health and safety of the company's employees and facilities. "We have been carrying out continuous preventive plans in all our business areas, in addition to detailed emergency plans and leading medical support services, in order to reduce risks, ensure the best possible care and curb COVID-19 infection," Saudi Press Agency reported, citing the CEO.

Saudi Arabia's Energy Ministry has directed Saudi Aramco, the world's top oil producing company, to keep supplying crude oil at a record rate of 12.3 million barrels per day (bpd) in the coming months.

Khalid al-Dabbagh, Saudi Aramco's CEO said the company was "very comfortable" with $30 a barrel oil prices and that it can meet its dividends commitments and shareholders expectations even with current low oil price.

Saudi Aramco’s 2019 net profit fell almost 21 percent over low crude oil prices and plunge in production volumes. The state-owned oil giant’s 2019 net profit stood at of 330.69 billion Saudi riyal ($88.11 billion) after zakat and tax, down from 416.52 billion riyals in 2018.

(Reporting by Seban Scaria, editing by Daniel Luiz)

seban.scaria@refinitiv.com

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