Aramco announces second quarter and half-year 2025 results
Cash flow from operating activities: $27.5 billion (Q2) / $59.3 billion (H1)
Free cash flow1: $15.2 billion (Q2) / $34.4 billion (H1)
Gearing ratio1: 6.5 % as at June 30, 2025, compared to 5.3% as at March 31, 2025
Board declares Q2 2025 base dividend of $21.1 billion and performance-linked dividend of $0.2 billion, to be paid in the third quarter
Supply reliability of 100% in H1 maintains strong track record of consistency and stability
Progress at Berri, Marjan and Zuluf crude oil increments, and Jafurah Gas Plant on track
Phase one of Dammam development project brought onstream
Global retail momentum continued with introduction of premium fuel lines in Chile and Pakistan
Power purchase agreements signed to develop new renewables projects, capitalizing on the Kingdom's advantaged solar and wind resources
Strong global demand for $5.0 billion bond issuance highlights investor confidence in Aramco's strong financial position, resilience and long-term strategy
Commenting on the results, Aramco President & CEO Amin H. Nasser said:
'Aramco's resilience was proven once again in the first half of 2025 with robust profitability, consistent shareholder distributions and disciplined capital allocation. Despite geopolitical headwinds, we continued to supply energy with exceptional reliability to our customers, both domestically and around the world.
'Market fundamentals remain strong and we anticipate oil demand in the second half of 2025 to be more than two million barrels per day higher than the first half. Our long-term strategy is consistent with our belief that hydrocarbons will continue to play a vital role in global energy and chemicals markets, and we are ready to play our part in meeting customer demand over the short and the long term.
'We continue to invest in various initiatives, such as new energies and digital innovation with a focus on AI – aiming to leverage our scale, low cost, and technological advancements for long-term success.'
For more information, please see the 2025 Aramco Second Quarter and Half-Year Interim Report.
Aramco will discuss its H1 2025 financial results in an audio webcast on August 5, 2025, at 11.30am Riyadh / 9.30am London / 4.30am New York. The webcast will be available at https://www.aramco.com/investors.
Aramco Contact Information
Media Relations: media.inquiries@aramco.com
Investor Relations: investor.relations@aramco.com
@aramco
About Aramco
As one of the world's leading integrated energy and chemicals companies, our global team is dedicated to creating impact in all that we do, from providing crucial oil supplies to developing new energy technologies. We focus on making our resources more dependable, more sustainable and more useful, helping to promote growth and productivity around the world. https://www.aramco.com
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