Aramco Announces Q1 2025 Results

Saudi Aramco announced today its financial results for Q1 of 2025, revealing robust performance that highlights reliability, efficiency, and low-cost operations. It reported a net income of SAR97.5 billion, down from SAR102.3 billion in the same period last year. Cash flow from operating activities totaled SAR118.9 billion compared to SAR126 billion in Q1 of 2024.
 Free cash flow amounted to SAR71.8 billion compared to SAR85.3 billion in Q1 of 2024. The gearing ratio stood at 5.3% as of March 31, 2025, compared to 4.5% at the end of 2024. The board of directors declared Q1 2025 base dividend of SAR79.3 billion, reflecting a 4.2% year-on-year increase, along with a performance-linked dividend of SAR0.8 billion to be paid in Q2.
 Furthermore, Aramco highlighted that the Ministry of Energy’s announcement of new oil and gas discoveries underscores the sustainability of its exploration activities. The company also noted the signing of definitive agreements to acquire a 25% equity stake in Unioil Petroleum Philippines, a move aimed at strategic growth in the downstream value chain, while the completed acquisition of a 50% stake in Blue Hydrogen Industrial Gases Company is aimed at capitalizing on emerging opportunities for lower-carbon energy.
 Commenting on the results, Aramco President and CEO Amin Nasser said, "Global trade dynamics affected energy markets in the first quarter of 2025, with economic uncertainty impacting oil prices. In this context, Aramco’s robust financial performance once again demonstrated the company’s unique scale, its reliability and flexibility, the value of its low-cost operations, and its emphasis on efficiency and advanced technology."
 "Such periods also highlight the importance of disciplined capital planning and execution while we continue to take a long-term view. In volatile times, Aramco’s resilience underpins both our financial performance and our sustainable and progressive base dividend.
 With all forms of energy key to meeting energy demand, we continue to advance our growth strategy across upstream, downstream, and new energies, while working to reduce emissions. Our ambition is reflected in milestones already announced in 2025, including progress towards our gas production growth target, our global retail expansion, the advancement of our petrochemicals strategy, headway in blue hydrogen business development, and further innovation in carbon capture," Nasser stated.