Aramco has posted net income of $26 billion in Q1 2025 as compared to $27.3 billion in Q1 2024. Cash flow from operating activities: $31.7 billion (Q1 2024: $33.6 billion). Free cash flow in Q1 2025 stood at $19.2 billion as compared to $22.8 billion in Q12024. The 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. Meanwhile, the company said that capital expenditures of $12.5 billion in Q1 to support long-term strategic growth.

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.”