Aramco Reports $28B Profit in Q3 as Major Projects Drive Growth

Saudi Aramco reported an adjusted net income of $28 billion for the third quarter of 2025, up from $27.7 billion a year earlier. The growth reflects strong operational momentum and continued progress across key strategic projects.

Operating cash flow reached $36.1 billion, compared to $35.2 billion in the same period last year, while free cash flow increased to $23.6 billion. The company’s gearing ratio improved slightly to 6.3% as of September 30.

Aramco’s board announced a base dividend of $21.1 billion and a performance-linked dividend of $200 million, both scheduled for payment in the fourth quarter.

Amin H. Nasser, President and CEO of Aramco, said the results highlight the company’s ability to adapt to evolving market conditions while maintaining production efficiency. “We increased output with minimal additional cost and continued to meet the needs of our customers worldwide,” he said.

Nasser added that Aramco is expanding its upstream capabilities, with several major projects completed or nearing completion. The company now targets an 80% increase in sales gas production capacity by 2030, compared to 2021 levels, supported by growing investor interest in the Jafurah unconventional gas expansion.

Aramco also emphasized its commitment to digital transformation, including a planned investment in Humain, part of its strategy to integrate advanced AI technologies and create new commercial opportunities.

Recent milestones include the completion of the $11.1 billion Jafurah midstream deal and the establishment of Fujian Sinopec Aramco Refining & Petrochemical Co., Ltd., advancing the company’s downstream expansion strategy.

Investor confidence remains strong, demonstrated by the robust response to Aramco’s $3 billion international sukuk issuance.

Prospect Target: Saudi Aramco

‍