Saudi Press

Saudi Arabia and the world
Sunday, Jun 22, 2025

Fitch raises Saudi Aramco’s long-term rating on strong business profile

Fitch raises Saudi Aramco’s long-term rating on strong business profile

Fitch Ratings upgraded Saudi Aramco’s long-term foreign and local currency Issuer Default Ratings thanks to the company’s strong business profile and solid ambitions to deliver a sustainable and progressive dividend.
The rating agency upgraded the global energy giant’s rating to ‘A+’ from ‘A’, with a stable outlook.

Saudi Aramco is the world’s largest oil producer and the national oil corporation of Saudi Arabia. It has a significant pre-dividend free cash flow generation, safe financial strategies and a net cash position.

Its business profile is characterized by large-scale production, massive reserves, low output costs, and development into downstream and petrochemicals.

Its upstream operations are focused on a single country, and its operations are oriented toward crude oil production when compared to global oil and gas companies.

“We assess status, ownership, and control, and support track record as ‘strong’ as Saudi Aramco is majority-owned by the government of Saudi Arabia,” Fitch Ratings said.

“We view the socio-political or financial implications of the company’s default as ‘very strong’ due to Saudi Aramco’s key role in the Saudi Arabian economy as a key purveyor of feedstock to the country’s power generation fleet and other key end-markets,” the rating agency continued.

Saudi Aramco’s annual capital expenditure grew to $38 billion last year, up from $32 billion in 2021, which is an 18 percent increase, and is expected to rise further between $45 billion to $55 billion in 2023.

The increase is largely due to Saudi Aramco’s efforts to increase maximum sustainable capacity by 1 million barrels of oil per day by 2027, as mandated by the government, as well as other strategic initiatives such as gas production, liquids to chemicals production and green projects.

Additionally, Saudi Aramco is investing in natural gas production, which is predicted to increase by more than 50 percent by 2030, renewables, blue ammonia and liquids-to-chemicals facilities. This risk is mitigated in part by Saudi Aramco's low-cost base.

Earlier this month, Fitch raised Saudi Arabia's long-term foreign-currency default rating to A+ from A, with a stable outlook.

During a session organized as part of the Saudi Green Initiative Forum in October 2021, CEO Amin Nasser said that Saudi Aramco will become a net-zero carbon energy producer by 2050 and that the company will replace crude burning for power with natural gas in 10 years.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Black Box Recovered from Air India Crash Site
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Global News Roundup: From Ukraine's strategic military strikes and Russia's demands and Tensions Escalate in Ukraine, to serious legal issues faced by Britons in Bali and Trump's media criticism, the latest developments highlight a turbulent landscape
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
×