Aramco Reports Record Q3 Profit as Major Projects Advance
Saudi Aramco's adjusted net income rose slightly to $28 billion in the third quarter of 2025, driven by strong operating momentum and progress on key projects.
RIYADH: Saudi Aramco announced its financial results for the third quarter of 2025, reporting an adjusted net income of $28 billion.
This marks a slight increase from the $27.7 billion recorded in the same period last year.
The company's performance has been bolstered by its strong operating momentum and significant advancements in major projects.The cash flow from operating activities increased to $36.1 billion compared to $35.2 billion in the third quarter of 2024, while free cash flow rose to $23.6 billion from $22 billion.
As of September 30, 2025, Aramco's gearing ratio stood at 6.3 percent, down slightly from 6.5 percent at the end of the previous quarter.Aramco's board declared a third-quarter base dividend of $21.1 billion and a performance-linked dividend of $200 million, both scheduled to be paid in the fourth quarter.
The company stated that these dividends reflect its strong financial health and operational success.Commenting on the results, Aramco President & CEO Amin H.
Nasser emphasized the company's ability to adapt to new market realities, demonstrating its resilience and strategic positioning.
He highlighted the increase in production with minimal incremental costs and the reliable supply of oil, gas, and associated products to customers, which collectively drove strong financial performance and earnings growth.Nasser also discussed Aramco's ongoing efforts to enhance its upstream capabilities through the completion or upcoming launch of major projects.
The company now targets sales gas production capacity growth of approximately 80 percent between 2021 and 2030, leveraging advanced capabilities to capitalize on new opportunities.
Notably, the Jafurah unconventional gas expansion has attracted significant interest from global investors.Aramco emphasized its planned investment in HUMAIN as a key component of its digital strategy, aiming to unlock new value creation potential.
The company also revised its 2030 sales gas production capacity growth target upward, now expecting an increase of around 80 percent above 2021 levels.
This revision brings the anticipated total gas and associated liquids output to approximately 6 million barrels of oil equivalent per day.Nasser reaffirmed Aramco's focus on value-accretive growth, meeting rising energy demand, and leveraging technology to explore new commercial opportunities.
The deployment of advanced AI solutions and investments in digital infrastructure further support this strategy.
Additionally, the planned acquisition of a significant minority stake in HUMAIN is expected to drive innovation and advance Aramco's role in the rapidly evolving AI sector.The completion of the $11.1 billion Jafurah midstream deal demonstrates the value of Aramco's unconventional gas expansion initiatives.
Furthermore, the initial investment and establishment of Fujian Sinopec Aramco Refining & Petrochemical Co., Ltd. mark significant progress in the company's downstream growth strategy.The strong financial performance and strategic initiatives undertaken by Aramco have bolstered investor confidence, as evidenced by the robust response to its $3 billion international sukuk issuance.
This marks a slight increase from the $27.7 billion recorded in the same period last year.
The company's performance has been bolstered by its strong operating momentum and significant advancements in major projects.The cash flow from operating activities increased to $36.1 billion compared to $35.2 billion in the third quarter of 2024, while free cash flow rose to $23.6 billion from $22 billion.
As of September 30, 2025, Aramco's gearing ratio stood at 6.3 percent, down slightly from 6.5 percent at the end of the previous quarter.Aramco's board declared a third-quarter base dividend of $21.1 billion and a performance-linked dividend of $200 million, both scheduled to be paid in the fourth quarter.
The company stated that these dividends reflect its strong financial health and operational success.Commenting on the results, Aramco President & CEO Amin H.
Nasser emphasized the company's ability to adapt to new market realities, demonstrating its resilience and strategic positioning.
He highlighted the increase in production with minimal incremental costs and the reliable supply of oil, gas, and associated products to customers, which collectively drove strong financial performance and earnings growth.Nasser also discussed Aramco's ongoing efforts to enhance its upstream capabilities through the completion or upcoming launch of major projects.
The company now targets sales gas production capacity growth of approximately 80 percent between 2021 and 2030, leveraging advanced capabilities to capitalize on new opportunities.
Notably, the Jafurah unconventional gas expansion has attracted significant interest from global investors.Aramco emphasized its planned investment in HUMAIN as a key component of its digital strategy, aiming to unlock new value creation potential.
The company also revised its 2030 sales gas production capacity growth target upward, now expecting an increase of around 80 percent above 2021 levels.
This revision brings the anticipated total gas and associated liquids output to approximately 6 million barrels of oil equivalent per day.Nasser reaffirmed Aramco's focus on value-accretive growth, meeting rising energy demand, and leveraging technology to explore new commercial opportunities.
The deployment of advanced AI solutions and investments in digital infrastructure further support this strategy.
Additionally, the planned acquisition of a significant minority stake in HUMAIN is expected to drive innovation and advance Aramco's role in the rapidly evolving AI sector.The completion of the $11.1 billion Jafurah midstream deal demonstrates the value of Aramco's unconventional gas expansion initiatives.
Furthermore, the initial investment and establishment of Fujian Sinopec Aramco Refining & Petrochemical Co., Ltd. mark significant progress in the company's downstream growth strategy.The strong financial performance and strategic initiatives undertaken by Aramco have bolstered investor confidence, as evidenced by the robust response to its $3 billion international sukuk issuance.
