Aramco announces second quarter and half-year 2025 results

• Adjusted net income¹: $24.5 billion (Q2) / $50.9 billion (H1) 
• Cash flow from operating activities: $27.5 billion (Q2) / $59.3 billion (H1)
• Free cash flow¹: $15.2 billion (Q2) / $34.4 billion (H1)
• Gearing ratio¹: 6.5% as at June 30, 2025, compared to 5.3% as at March 31, 2025
• Board declares Q2 2025 base dividend of $21.1 billion and performance-linked dividend of $0.2 billion, to be paid in the third quarter 
• Supply reliability of 100% in H1 maintains strong track record of consistency and stability
• Progress at Berri, Marjan, and Zuluf crude oil increments, and Jafurah Gas Plant on track
• Phase 1 of Dammam development project brought onstream
• Global retail momentum continued with introduction of premium fuel lines in Chile and Pakistan
• Power purchase agreements signed to develop new renewables projects, capitalizing on the Kingdom’s advantaged solar and wind resources
• Strong global demand for $5 billion bond issuance highlights investor confidence in Aramco’s strong financial position, resilience and long-term strategy

Commenting on the results, Amin Nasser, Aramco president and CEO, said:

“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. 

“Market fundamentals remain strong and we anticipate oil demand in the second half of 2025 to be more than two million barrels per day higher than the first half. Our long-term strategy is consistent with our belief that hydrocarbons will continue to play a vital role in global energy and chemicals markets, and we are ready to play our part in meeting customer demand over the short and the long term.  

“We continue 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.” 

For more information, please see the 2025 Aramco Second Quarter and Half-Year Interim Report.

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