Saudi Arabian oil company Aramco has reported net income of $26.94bn for the third quarter of 2025 (Q3 2025), a 2.3% decrease compared to $27.56bn in the same period last year, due to lower average realised crude and product prices.
However, the company’s net income increased from the previous quarter’s $22.67bn, reflecting improved revenues and reduced operating costs.
Aramco’s adjusted net income for the quarter stood at $27.98bn, a slight increase from the same quarter in 2024. It also increased from $24.54bn in Q2 2025.
The company’s revenues and other income related to sales reached $111.51bn, down from $123.90bn in the same quarter a year ago and an increase from $108.57bn in the previous quarter.
The rise in revenues from the last quarter was driven by higher volumes and prices of refined and chemical products, along with increased crude oil sales, said Aramco.
Aramco president and CEO Amin Nasser said: “Aramco’s ability to adapt to new market realities has once again been demonstrated by our strong third quarter performance.
“We increased production with minimal incremental cost, and reliably supplied the oil, gas and associated products our customers depend on, driving strong financial performance and quarterly earnings growth.
“We also continue to enhance our upstream capabilities, with major oil and gas projects either recently completed or due to come onstream soon.
“Our deployment of advanced AI solutions and investment in digital infrastructure underpins this approach, and our plan to acquire a significant minority stake in HUMAIN is expected to further drive innovation and progress our role in the crucial and rapidly evolving AI sector.”
Aramco reported capital expenditure of $12.56bn for Q3, lower than the $13.23bn spent in the same quarter a year ago and slightly higher than the previous quarter.
The company’s operating costs decreased to $59.90bn from $72.48bn in Q3 2024, reflecting lower purchases of crude oil, partially offset by higher prices and volumes of refined and chemical products purchased.
The reduction in operating costs also helped improve profitability compared to the previous quarter’s operating costs of $64.01bn.
Aramco’s board declared a base dividend of $21.1bn and a performance-linked dividend of $200m for Q3 2025, both to be paid in Q4.
The company raised its 2030 sales gas production capacity growth target to around 80% above 2021 levels, up from its previous goal of more than 60%.
In August 2025, Aramco signed an $11bn lease and leaseback agreement with a consortium of international investors for its Jafurah gas processing facilities in Saudi Arabia.
