Aramco reports $26 billion net income for Q1
Aramco, one of the world's leading integrated energy and chemicals companies, has announced a net income of $26 billion for the first quarter of this year (Q1), compared to $27.3 billion in Q1 2024.
The company's robust financial performance highlights reliability, efficiency and low-cost operations, Aramco said.
Cash flow from operating activities was $31.7 billion (Q1 2024: $33.6 billion); free cash flow was $19.2 billion (Q1 2024: $22.8 billion). Gearing ratio was 5.3% as at March 31, 2025, compared to 4.5% at end of 2024.
Board declared a base dividend of $21.1 billion for Q1 2025, up 4.2% year-on-year, and performance-linked dividend of $0.2 billion, to be paid in the second quarter.
The company's capital expenditures totalled $12.5 billion in Q1 to support long-term strategic growth, it said.
It said the Ministry of Energy announcement of new oil and gas discoveries reflects sustained advantage in exploration.
The company average realised crude oil price in the quarter was $76.3 per barrel, compared to $83 per barrel in Q1 2024 and $73.1 per barrel in Q4, 2024.
Other Q1 highlights:
* Definitive agreements to acquire 25% equity stake in Unioil Petroleum Philippines support strategic growth in downstream value chain
• Completed acquisition of 50% equity interest in Blue Hydrogen Industrial Gases Company aims to capitalize on emerging opportunities for lower-carbon energy
• Launch of CO2 Direct Air Capture pilot plant paves way for further scale up of innovative emission-reduction technology
Commenting on the results, Aramco President & CEO Amin H 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.' - TradeArabia News Service
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