Saudi Aramco posts weaker income in Q1 on lower oil prices

Saudi Aramco reported a net income of $26 billion for the first quarter of 2025, down by 5% from $27.3 billion recorded in the same period last year, as global trade disruptions and economic uncertainty weighed on oil prices.

Revenue and other income related to sales totaled $114.6 billion in Q1 2025, compared to $116.8 billion a year earlier. Operating costs rose to $63.5 billion from $62.9 billion in Q1 2024. The increase was largely due to higher crude oil purchase volumes and elevated production and manufacturing expenses.

Despite market volatility, the board declared a base dividend of $21.1 billion for the first quarter, representing a 4.2% increase year-on-year, alongside a performance-linked dividend of $0.2 billion. Both dividends are scheduled for payment in the second quarter.

“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,” said Amin H. Nasser, President and CEO.