Latest news with #Unioil
Zawya
12-05-2025
- Business
- Zawya
Aramco reports $26bln 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 Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
11-05-2025
- Business
- Zawya
Aramco announces first quarter 2025 results
Robust financial performance highlights reliability, efficiency and low-cost operations Net income: $26.0 billion (Q1 2024: $27.3 billion) Cash flow from operating activities: $31.7 billion (Q1 2024: $33.6 billion) Free cash flow: $19.2 billion (Q1 2024: $22.8 billion) Gearing ratio: 5.3% as at March 31, 2025, compared to 4.5% at end of 2024 Board declares Q1 2025 base dividend of $21.1 billion, up 4.2% year-on-year, and performance-linked dividend of $0.2 billion, to be paid in the second quarter Capital expenditures of $12.5 billion in Q1 support long-term strategic growth Ministry of Energy announcement of new oil and gas discoveries reflects sustained advantage in exploration 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.' 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.
Trade Arabia
11-05-2025
- Business
- Trade Arabia
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
Asharq Al-Awsat
20-02-2025
- Automotive
- Asharq Al-Awsat
Saudi Aramco to Acquire 25% Stake in Unioil Petroleum Philippines
Saudi Arabia's Aramco has signed an agreement to acquire a 25% equity stake in Unioil Petroleum Philippines, the company said in a statement late on Wednesday. Established in 1966, Unioil is a downstream fuels operator with a network of 165 retail stations and four storage terminals in the Philippines, the statement said. The deal follows Aramco's previous retail acquisitions in Chile and Pakistan. Aramco said the Unioil stake acquisition represents further progress in its strategic downstream expansion and growth of its global retail network. It added that the deal aims to capitalize on anticipated growth of the high-value fuels market in the Philippines, and it planned to extend its brand and retail offerings such as Valvoline-branded lubricants to select retail stations in the country.
Zawya
20-02-2025
- Business
- Zawya
Saudi Aramco to buy 25% stake in Philippines' Unioil
Aramco has signed definitive agreements to acquire a 25 per cent equity stake in Unioil Petroleum Philippines, one of the largest petroleum companies in the Philippines. The planned acquisition, which is subject to customary closing conditions including regulatory approvals, aims to capitalise on anticipated growth of the high-value fuels market in the Philippines. It represents further progress in Aramco's strategic downstream expansion and growth of its global retail network, which aims to secure additional outlets for its refined products. Yasser Mufti, Aramco Executive Vice President of Products & Customers, said: 'This investment represents another step forward in our global strategy to expand Aramco's retail network, and we look forward to introducing Aramco's high-quality products and services to customers in the Philippines. Our international expansion aims to capture additional value and enhance our participation in vibrant economies, in collaboration with established partners. We are delighted to embark on the next stage of this journey with Unioil, a dynamic player in the fast-growing Philippines fuels market.' The announcement follows Aramco's previous retail acquisitions in Chile and Pakistan. Upon completion, Aramco intends to extend its brand, competitive retail offerings and Valvoline-branded lubricants to select retail stations in the Philippines. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
