DHAHRAN — Saudi Aramco reported a net profit of $50.9 billion for the first half of 2025, underscoring its financial strength despite market volatility and lower crude prices, the company said in its earnings announcement on Tuesday. The energy giant posted adjusted net income of $24.5 billion in the second quarter alone, with free cash flow reaching $34.4 billion for the half-year and $15.2 billion in Q2. The board declared a base dividend of $21.1 billion for the quarter and an additional performance-linked dividend of $0.2 billion, both payable in Q3. CEO Amin H. Nasser said Aramco's performance "proved its resilience once again" with consistent shareholder returns and disciplined capital allocation, adding that global oil demand is expected to increase by more than two million barrels per day in the second half of 2025. "Despite geopolitical headwinds, we continued to supply energy with exceptional reliability," Nasser said. "We remain committed to our long-term strategy, including investments in new energies, AI, and digital innovation." Capital expenditures reached $24.9 billion in the first six months, while the average realized crude price fell to $71.5 per barrel, down from $84.3 in the same period last year. Aramco's gearing ratio stood at 6.5% as of June 30, compared to 5.3% at the end of Q1. Operational highlights included ongoing progress at the Berri, Marjan, and Zuluf oil increments, the startup of phase one of the Dammam development project, and retail expansion with premium fuel launches in Chile and Pakistan. The company also signed new power purchase agreements for solar and wind projects, leveraging the Kingdom's renewable resources. Aramco attracted strong global investor demand for its $5 billion bond issuance, reinforcing confidence in its financial position and long-term strategy.
