Aramco Announces Second Quarter, Half-Year 2025 Results

Saudi Aramco released its financial results for the second quarter and the first half of 2025, reporting strong performance despite market fluctuations, with an adjusted net income of SAR92.0 billion in Q2 and total income of SAR190.8 billion for H1.
 Aramco reported that cash flow from operating activities reached SAR103.3 billion in Q2 and totaled SAR222.2 billion for H1. Free cash flow amounted to SAR57.1 billion in Q2 and SAR129.0 billion in H1. The gearing ratio stood at 6.5% as of June 30, 2025, compared to 5.3% as of March 31, 2025.
 The Board of Directors declared a Q2 base dividend of SAR79.3 billion and a performance-linked dividend of SAR0.8 billion, payable in Q3.
 Aramco highlighted its 100% supply reliability in H1, reinforcing a strong track record of stability and consistency. It also noted progress on the Berri, Marjan and Zuluf crude oil increments, and confirmed that work on the Jafurah Gas Plant remains on track.
 Furthermore, phase one of the Dammam development project was brought onstream, while global retail momentum continued with the introduction of premium fuel lines in Chile and Pakistan.
 Power purchase agreements were signed to develop new renewable energy projects, leveraging the Kingdom’s solar and wind resources. Strong global demand for the SAR18.8 billion bond issuance underscored investor confidence in Aramco’s financial strength, resilience, and long-term strategy.
 Commenting on the results, Aramco President and CEO Amin Nasser stated: "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."
 He added that market fundamentals remain robust, with oil demand in the second half of 2025 expected to exceed the first half by more than two million barrels per day. He reaffirmed the company's long-term strategy, based on the view that hydrocarbons will remain essential to global energy and chemical markets, and emphasized its readiness to meet customer demand in both the near and long term.
 Nasser also said that Saudi Aramco "continues 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."