Saudi Aramco reported a net income of USD 28bn for the third quarter of 2025, up slightly from USD 27.7bn in the same period last year, underscoring its solid operational efficiency, financial strength, and steady execution of long-term growth plans.
Operating cash flow rose to USD 36.1bn from USD 35.2bn in Q3 2024, while free cash flow advanced to USD 23.6bn from USD 22bn a year earlier. The company’s gearing ratio stood at 6.3 per cent as of September 30, 2025, down from 6.5 per cent at the end of June.
Aramco’s Board declared a base dividend of USD 21.1bn and a performance-linked dividend of USD 200m for the third quarter, both scheduled for payment in the fourth quarter.
Aramco announced an upward revision to its 2030 sales gas production capacity target, now aiming for an increase of around 80 per cent above 2021 levels, compared to its earlier goal of more than 60 per cent. The company attributed the adjustment to growing confidence in its upstream potential and ongoing development of unconventional gas reserves.
This expansion is expected to lift Aramco’s total gas and associated liquids output to nearly six million barrels of oil equivalent per day by 2030. The firm added that the completion of the USD 11.1bn Jafurah midstream transaction demonstrates the strong value proposition of its unconventional gas portfolio.
Aramco also highlighted continued progress in its downstream operations through the formation of Fujian Sinopec Aramco Refining & Petrochemical Co. Ltd., a new joint venture with Sinopec in China.
At the same time, it is advancing plans to acquire a significant minority interest in HUMAIN, reflecting its deepening commitment to AI-based digital infrastructure and technological innovation.
The developments follow Aramco’s successful USD 3bn international Sukuk issuance, which the company said reaffirms global investor confidence in its financial robustness and stable balance sheet.
