Saudi Arabian oil giant Aramco reported third-quarter profits of $27.5 billion on Tuesday, down about 15 percent from last year as low oil prices ate into its revenues. Aramco, formally known as the Saudi Arabian Oil Co.

Saudi oil giant Aramco on Tuesday reported a 15.4% drop in third-quarter profit due to lower crude prices and weaker refining margins but still maintained its generous dividend at $31.1 billion for the quarter.

Saudi Arabian oil giant Aramco has reported third-quarter profits of $27.5 billion, down about 15% from last year as low oil prices ate into its revenues.

Saudi state oil giant Aramco reported a 15.4% drop in net profit in the third-quarter on the back of "lower crude oil prices and weakening refining margins," but maintained a 31.05 billion dividend. Aramco's dividend includes a base payout of $20.

Oil giants on both sides of the Atlantic suffered from lower oil prices and weaker refining margins in the quarter.

Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on Tuesday, citing prices which have stayed low despite production cuts and war in the Middle

Saudi Arabia’s national oil company Aramco said its third-quarter profit fell on lower oil prices and refining margins, and that it plans to pay $31.05 billion in dividends.Saudi Arabian Oil Co., known as Aramco,