Saudi Aramco Company Profile: Comprehensive Overview

Quick Facts / Company Snapshot

• Founded: 1933
• Revenue (Nine months 2025): SAR 1,254,914 million
• Operating Profit (Nine months 2025): SAR 550,959 million (income before taxes and zakat)
• Net Profit (Nine months 2025): SAR 283,580 million
• Cash Flow from Operation (Nine months 2025): SAR 357,637 million
• Vision: To be the world’s preeminent integrated energy and chemicals company, operating in a safe, sustainable and reliable manner
• Mission: To provide reliable, affordable, and more sustainable energy to communities around the world, and to deliver value to its shareholders through business cycles by maintaining its preeminence in oil and gas production and leading position in chemicals, aiming to capture value across the energy value chain and profitably growing its portfolio
• Values: Safety, Citizenship, Accountability, Excellence, Integrity
• Total Dividends Paid (Nine months 2025): SAR 240,329 million
• Capital Expenditure (Nine months 2025): SAR 140,298 million
• Crude Oil Production Capacity Addition (2025): 300 mbpd from Marjan increment
• Key Focus Areas: Innovation, Integration, Investment, Sustainability
• Chairman: H.E. Yasir O. Al-Rumayyan
• Royal Patronage: Under the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister
• IPO Year: 2019
• Public Offering (2024): Secondary public offering in June 2024, resulting in 1.7 billion shares sold, representing 0.7% of the Company’s issued shares

Company overview

Saudi Aramco is one of the world’s largest integrated energy and chemicals companies, operating in a safe, sustainable, and reliable manner. The company’s vision is to be the world’s preeminent integrated energy and chemicals company, prioritizing safety, sustainability, and reliability.

• Revenue for nine months 2025: SAR 1,254,914 million, down 8.6% from nine months 2024
• Net income for nine months 2025: SAR 283,580 million, down 9.9% from nine months 2024
• Adjusted net income for Q3 2025: SAR 104,923 million, up 0.7% from Q3 2024
• Total hydrocarbon production for Q3 2025: 13.3 mmboed, up from 12.7 mmboed in Q3 2024

Its mission strives to provide reliable, affordable, and more sustainable energy to communities around the world, delivering value to shareholders through business cycles. This is achieved by maintaining preeminence in oil and gas production and a leading position in chemicals, capturing value across the energy value chain and profitably growing its portfolio.

• Core values: Safety (protecting people and assets), Citizenship (contributing to society), Integrity (ethical conduct), Accountability (ownership of actions), Excellence (high standards)
• History span: More than nine decades, from 1933 Concession to global leader

By living its values and prioritizing sound business practices, Saudi Aramco consistently achieves high levels of performance and efficiency. These benefit the company, customers, partners, and communities in which it operates.

• 2019 IPO dividends: SAR 1,656.4 billion over five years
• 2024 secondary offering: 1.7 billion shares sold for diversification

Saudi Aramco is implementing the largest capital program in its history, aiming to leverage low-cost, lower upstream carbon intensity production to meet expected global demand growth. Production from the Marjan crude oil increment is expected to come onstream in 2025, adding 300 mbpd of production capacity.

• Gas production capacity growth target: ~80% over 2021 levels by 2030
• Supply reliability for nine months 2025: 99.9%

In 2024, the company continued to pursue downstream opportunities to capture additional value, making investments in refining and petrochemical projects in key markets while extending retail presence globally. For example, low-equity investments with high crude placement rights in China support the long-term intention of increasing the liquids-to-chemicals business, positioning to place more crude oil and natural gas liquids into owned refineries and complexes for resilience during oil market fluctuations.

• Downstream utilization of crude oil production: 54% for nine months 2025
• New investment in Fujian JV: 25% stake, operational by 2030 with 320 mbpd refinery

Back in 2021, Saudi Aramco announced its ambition for net-zero Scope 1 and Scope 2 greenhouse gas emissions from wholly-owned operated assets by 2050, with efforts on track through pathways like energy efficiency improvements. In 2024, further investments in renewables were made through the New Energies business, advancing lower-carbon products in energy, chemicals, and materials sectors.

• Upstream carbon intensity target: 15% reduction by 2035 from 2018 baseline of 9.1 kg CO₂e/boe
• Jubail CCS hub: Up to 9.0 mmpta CO₂ by 2028, with 60% ownership

The company integrates AI into operations to extract more value from data, improve efficiencies, and lower emissions, believing the energy industry has significant opportunities from AI advancements. Saudi Aramco continues efforts to develop a locally diverse and globally competitive energy ecosystem in Saudi Arabia, entering 145 corporate purchase agreements in 2024 to strengthen the local supply chain and enhance the Kingdom’s manufacturing landscape.

• iktva program: 67.0% local spend, target 70.0% by 2025
• Supplier ESG Program: Embeds ESG principles in supply chain

Such actions benefit the company’s competitiveness and support economic development within Saudi Arabia. The sustainability approach focuses on four areas: climate change and energy transition, safe operations and people development, minimizing environmental impact, and growing societal value.

• Renewables ambition: Up to 12 GWac solar PV and wind by 2030
• Blue ammonia target: Up to 2.5 million tons annually by 2030

In climate change and energy transition, Saudi Aramco supports energy security and affordability, promoting sustainable practices. Its strategy produces hydrocarbons with low costs and carbon intensities among major producers, supporting an orderly global transition through technology investments and sustainable solutions.

• Key levers: Energy efficiency, methane reductions, renewables, CCS, offsets
• Progress: Sudair Solar PV Plant 1.5 GWac operational, Al Shuaibah 2.66 GWac commenced

The challenge involves developing technology at speed and scale to provide oil and gas benefits while reducing GHG emissions, a complex, capital-intensive process spanning generations. Alternatives to hydrocarbons progress but cannot yet meet world demand alone, with oil demand expected to grow for years.

• Carbon offset crude pilot: 2 million barrels at 6.39 kgCO₂e/boe
• JV with Ma’aden: Energy transition minerals like lithium by 2027

Hydrocarbons are essential for new materials in the transition, like those for wind turbines and solar panels. Production with carbon capture, in which the company invests, complements alternatives in the future energy mix.

• Collaboration with China Building Material: Advanced materials for wind blades, hydrogen tanks
• 10% stake in HORSE Powertrain: Lower-emission engines with Renault and Geely

The company recognizes the need to reduce GHG emissions, with a net-zero ambition by 2050 and a 15% upstream carbon intensity reduction target by 2035. Activities within each lever will be outlined in the forthcoming 2024 Sustainability Report.

• 50% in BHIG: Lower-carbon hydrogen network in Eastern Province
• Solar energy storage: Deployed with hydrogen fuel cells and iron-vanadium batteries

To progress in energy transition contributions, the New Energies organization was established, consolidating renewables, hydrogen, and CCS verticals. It aims to nurture sustainable new energies businesses locally and globally, capitalizing on opportunities in growth markets.

• HUMAIN investment: Significant minority stake for AI unification (October 2025)
• Jafurah midstream deal: $11.1 billion with BlackRock-led consortium

In safe operations and people development, safety is a core value, providing safe environments for employees and contractors through comprehensive programs, training, audits, and advanced technologies. The company has a history of educating Saudi nationals, offering development programs to enhance workforce skills for energy challenges.

• People focus: Skills enhancement, diversity, inclusion for women and disabilities

Committed to women and people with disabilities development for an inclusive workplace. Minimizing environmental impact dedicates to reducing footprint, including water usage, waste, and biodiversity protection via advanced management and restoration projects.

• Mangrove Plantation: Red Sea coast for biodiversity

Societal value from 1933 Concession seeks sustainable opportunities for Kingdom and global communities. Informed by Saudi Vision 2030 and UN SDGs, supports local content and innovative future opportunities.

• Global Citizenship Programs: STEM education extended to multiple regions
• Energy Access: 20,000 stoves benefiting 153,000 in India

Commitment to training, skills, and in-Kingdom partnerships contributes to Saudi labor force and supply chain robustness. In 2024, localization via iktva program reached 67.0% local expenditure, targeting 70.0% by 2025.

• 145 agreements: Valued at $17.5 billion for supply chain
• 145 MoUs: At $9.0 billion during iktva Forum

Citizenship initiatives in 2024 demonstrated community engagement: employee donations via BlueBox and Ramadan Campaigns for food and support to underprivileged. Micro-industry projects like Saudi Coffee Development Center fostered local growth.

• Outreach: National Day celebrations with orphans and disabled
• Educational partnerships: STEM Challenge, World Robotics Olympiad

Energy Access distributed 20,000 stoves, benefiting over 153,000 people in India. Volunteering activities, such as blood donation campaigns, home renovation projects, and collaborations with people with disabilities care centers showcased dedication to inclusion and community welfare.

• Volunteering highlights: Blood drives, renovations, disability inclusions

Business segments and revenue breakup %

Saudi Aramco operates through Upstream, Downstream, and Corporate segments, each playing a distinct role in the integrated approach. Upstream focuses on exploration, field development, and production of crude oil, condensate, natural gas, and liquids, including developments like Marjan to increase capacity.

• Upstream revenue (nine months 2025): SAR 552,295 million earnings before interest, taxes, zakat (down 9.8%)
• Downstream revenue (nine months 2025): SAR 9,096 million earnings (improved from loss)

Downstream involves refining, petrochemical manufacturing, marketing, and transportation, capturing value by converting crude into higher-value products. Corporate supports overall operations with technical services, finance, strategy, and sustainability.

• Corporate revenue (2024 base): SAR 1,531 million (down 55.2%)
• Inter-segment pricing: Adjusted effective October 1, 2024

Revenue and other income related to sales for Upstream was SAR 1,141,156 million in 2024, down 5.8% from 2023. Downstream revenue was SAR 1,063,258 million, up 2.9%, while Corporate was SAR 1,531 million, down 55.2%.

• Q3 2025 revenue: SAR 418,160 million, down from Q3 2024
• Nine months 2025 revenue: SAR 1,254,914 million, down 8.6%

Upstream operational scope maintains preeminence in oil and gas, with Marjan adding 300 mbpd in 2025 and hydrocarbon production of 12,403 mboed in 2024. Downstream scope includes liquids-to-chemicals increase and global retail, with net refining capacity 4.1 mmbpd and chemical production 57.6 million tons per year.

• Q3 2025 upstream production: 13.3 mmboed, up from 12.7 mmboed
• Average crude price Q3 2025: USD 70.1/bbl, down from USD 79.3/bbl

Corporate scope oversees governance, risk, and compliance for safe operations. Geographical analysis shows out-of-Kingdom revenue with sales originating from the United States at SAR 190,011 million in 2024.

• Kingdom external revenue (2024): SAR 954,139 million
• Out-of-Kingdom: SAR 683,160 million

History and evolution

Saudi Aramco’s history exceeds nine decades since the 1933 Concession agreement granting oil exploration rights. The company has evolved from initial discoveries to a global integrated energy and chemicals giant.

• Key milestone: 2019 IPO, dividends SAR 1,656.4 billion over five years
• 2020 SABIC acquisition: Expanded chemicals leadership

In 2024, a secondary public offering in June resulted in the sale of 1.7 billion shares, representing 0.7% of issued shares. This offering diversified the shareholder base internationally and domestically, increasing share liquidity.

• Bond issuance in July: Oversubscribed more than six times
• Sukuk in October: Oversubscribed more than six times

The company has continued to invest in growth, with capital expenditure of SAR 186.3 billion in 2024. The evolution includes transitioning to lower-carbon products and advancing new energies, as well as expanding in petrochemicals and LNG markets.

• Net-zero ambition announced in 2021: Scope 1 and 2 by 2050

Products and services with revenue breakup %

Saudi Aramco offers a range of products and services in energy and chemicals, including crude oil, natural gas, refined products, and chemicals. Detailed listing includes crude oil from fields like Marjan, refined products from downstream operations, and chemicals from liquids-to-chemicals initiatives.

• Crude oil and condensate revenue (2024): SAR 719,157 million (Upstream)
• Refined and chemical products (2024): SAR 917,044 million (Downstream)
• Total revenue from contracts (2024): SAR 1,630,366 million

The company has increased its focus on higher-value products, such as petrochemical compounds used to make essential products. Revenue contribution percentages are connected to segment performances, with Upstream generating the majority from crude oil production, Downstream from refining and chemicals.

• Nine months 2025 revenue: SAR 1,170,642 million from contracts
• Crude oil dominant in Q3 2025: SAR 157,763 million external

Brand portfolio with revenue %

Saudi Aramco’s brand portfolio includes its core Aramco brand, positioned as a leader in integrated energy and chemicals. Brand-wise contribution is integrated into the overall revenue, with the Aramco brand encompassing all segments.

• Positioning: Emphasis on safety, sustainability, and reliability

Geographical presence and region-wise revenue %

Saudi Aramco has a strong presence in the Kingdom of Saudi Arabia, with operations in fields like Marjan, Yanbu, Fadhili, and mangrove plantations in the Red Sea coast. The company has expanded globally, with investments in China for liquids-to-chemicals, and retail presence in select geographies.

• Kingdom revenue (2024): SAR 954,139 million
• Out-of-Kingdom (2024): SAR 683,160 million, including U.S. sales SAR 190,011 million

Region-wise, the majority of operations are in Saudi Arabia, with international investments in Asia for downstream activities. Revenue contribution is primarily from Saudi Arabia operations, with growing contributions from international ventures.

• Manufacturing and offices: Dhahran HQ, Yanbu Refinery, Fadhili Gas Plant

Financial performance analysis

Saudi Aramco’s financial performance in 2024 reflects strong earnings and cash flows, though net income declined due to lower crude prices and volumes. The company recorded net income of SAR 398,422 million for the full year, down 12.4% from 2023.

• Net income attributable to shareholders: SAR 393,891 million
• Net income attributable to non-controlling interests: SAR 4,531 million
• Free cash flow: SAR 319,998 million, down 15.6%

Aramco demonstrated resilience with robust earnings and cash flows, posting net income of SAR 398.4 billion for the full year. Specific to the fourth quarter of 2024, the Board of Directors declared a base dividend of SAR 79.3 billion, and a performance-linked dividend of SAR 0.8 billion based on full-year results.

• Total dividends paid in 2024: SAR 465.9 billion, up 27.0% from 2023
• ROACE: 15.1%, down from 17.1%
• EBIT: SAR 772,010 million, down 11.1%

Multi-year trend analysis shows consistent delivery of dividends, with the performance-linked dividend framework providing upside and downside protection. Consolidated performance shows robust results, with multi-year trend showing increase in dividends from 2023.

• Revenue 2024: SAR 1,637,299 million, down 1.0% from 2023
• Capital expenditures: SAR 188,890 million, up 19.3% from 2023

For nine months 2025, net income was SAR 283,580 million, down 9.9% from nine months 2024, reflecting ongoing market challenges. Adjusted net income for Q3 2025 was SAR 104,923 million, up 0.7% from Q3 2024.

• Nine months 2025 revenue: SAR 1,254,914 million, down 8.6%
• Q3 2025 net income: SAR 101,015 million, down 2.3% from Q3 2024

Standalone performance is not separately disclosed, but the consolidated figures include all operations. The decrease in net income was primarily driven by lower revenue and other income related to sales, higher operating costs, as well as lower finance and other income.

• Impairment charges: SAR 10.4 billion on Downstream property, plant, and equipment
• Nine months 2025 impairments: SAR 8,886 million on international downstream facilities

Profit and loss analysis

The revenue for 2024 is SAR 1,637,299 million, down 1.0% from 2023, with other income related to sales SAR 164,375 million. Operating costs were SAR 1,027,049 million, up 3.9%, leading to operating income of SAR 774,625 million, down 10.8%.

• Revenue from contracts: SAR 1,630,366 million, down from SAR 1,644,114 million
• Movement between provisional and final prices: SAR (637) million

Net income is SAR 398,422 million, with share of joint ventures SAR (4,966) million and finance income SAR 22,891 million. Income before taxes was SAR 782,010 million, down 11.9%, and taxes/zakat SAR 383,588 million, down 11.5%.

• Finance costs: SAR (10,540) million, up from SAR (8,186) million
• Earnings per share: SAR 1.63, down from SAR 1.87

Expense structure includes royalties SAR 200,532 million, purchases SAR 509,430 million, producing and manufacturing SAR 110,275 million. Margin movements: Operating margin 43.0%, down from 46.8%.

• Selling, administrative and general: SAR 89,235 million
• Exploration: SAR 8,552 million
• Research and development: SAR 5,816 million
• Depreciation and amortization: SAR 103,209 million

For nine months 2025, revenue and other income related to sales SAR 1,254,914 million, down 8.6%. Income before taxes and zakat SAR 550,959 million, down 9.6%.

• Q3 2025 revenue: SAR 418,160 million, down 7.3%
• Q3 2025 income before taxes/zakat: SAR 194,196 million, down 0.5%

Balance sheet analysis

Total assets were SAR 2,473,955 million at year-end 2024, with total liabilities SAR 736,863 million and equity SAR 1,737,092 million. Capital structure emphasizes equity, building net worth from retained earnings.

• Property, plant and equipment – net: SAR 1,576,922 million at September 30, 2025
• Intangible assets – net: SAR 165,462 million at September 30, 2025

Gearing ratio was 4.5% in 2024, indicating strong liquidity and low debt position. This supports high dividends and capex, positioning for future investments and resilience.

• Gearing at September 30, 2025: 6.3%, up from 1.9% in 2024
• Total borrowings: SAR 356,540 million at September 30, 2025

Net worth and reserves are built from retained earnings. Debt and liquidity position is strong, with gearing of 6.3% at Q3 2025 end.

• Lease liabilities: SAR 60,703 million at September 30, 2025

Cash flow analysis

Net cash provided by operating activities was SAR 508,888 million in 2024, down 5.4%. Net cash used in investing activities was SAR 2,861 million, a change of 94.7%.

• Nine months 2025 operating cash: SAR 357,637 million, down from SAR 374,613 million
• Q3 2025 operating cash: SAR 135,445 million, up 2.6% from Q3 2024

Net cash used in financing activities was SAR 488,358 million in 2024, down 4.4%. Cash and cash equivalents at end of 2024 SAR 216,642 million, up 8.9%.

• Free cash flow 2024: SAR 319,998 million, down 15.7%
• Nine months 2025 free cash flow: SAR 217,339 million, down from SAR 238,908 million
• Q3 2025 free cash flow: SAR 88,364 million, up from SAR 82,465 million

The decrease in operating cash flow mainly reflects lower earnings, partially offset by reduced tax payments. Investing change due to short-term maturities and absence of prior acquisitions, offset by higher upstream capex.

• Nine months 2025 capex cash basis: SAR 140,298 million, up 3.4%
• Q3 2025 capex: SAR 47,081 million, down 5.1%

Financing decrease reflects lower borrowings repayments and higher proceeds from new issuances, offset by higher dividends. Free cash flow insights support ongoing investments and returns.

Board of directors and leadership team

The Board of Directors is chaired by H.E. Yasir O. Al-Rumayyan, with 11 members including 5 independent for balanced governance. Composition provides guidance on strategy and operations.

• Chairman: H.E. Yasir O. Al-Rumayyan, Governor of PIF
• Deputy Chairman: H.E. Dr. Ibrahim A. Al-Assaf
• Members: H.E. Mohammed A. Al-Jadaan (Minister of Finance), H.E. Faisal F. Alibrahim (Minister of Economy and Planning)
• Independent: Mr. Andrew N. Liveris, Ms. Lynn L. Elsenhans, Mr. Robert W. Dudley, Mr. Mark A. Weinberger, Mr. Stuart T. Gulliver

Non-executive Mr. Khalid H. Al-Dabbagh and President & CEO Mr. Amin H. Nasser. Executive leadership roles include President & CEO Amin H. Nasser, with background in petroleum engineering and leadership positions.

• CEO tenure: Senior Vice President Upstream 2007-2015
• Education: B.S. Petroleum Engineering from KFUPM, executive programs at Columbia

Committees include Audit for financial oversight, Sustainability, Risk and HSE for environmental and risk management. Nomination for board selections, Compensation for remuneration.

• Audit Committee: Chaired by Mr. Stuart T. Gulliver, oversees integrity and compliance
• Sustainability Committee: Chaired by Ms. Lynn L. Elsenhans, focuses on HSE and risks

Subsidiaries, associates, joint ventures and revenue %

The company has subsidiaries, associates, and joint ventures in downstream and international investments. List of entities includes those in chemicals and LNG, with ownership % varying.

• A.O.C. Holding Company: 100%, Netherlands, holding
• Aramco Chemicals Company: 100%, Saudi Arabia, petrochemicals
• S-Oil Corporation: 63.4%, South Korea, refining
• SABIC Agri-Nutrients Company: 49.0%, Saudi Arabia, petrochemicals
• Petro Rabigh: Increased to ~60% stake in 2025

Revenue contribution from these entities is integrated into segment performances. Revenue from sales to associates SAR 85,766 million in 2024, to joint ventures SAR 25,894 million.

• Q3 2025 revenue from joint ventures/associates: SAR 28,440 million
• New in 2025: 50% stake in BHIG for hydrogen, commitment SAR 1,441 million guarantees

Physical properties (offices, plants, factories, etc.)

Saudi Aramco owns and operates various physical properties, including offices in Dhahran, plants in Fadhili Gas Plant, refineries in Yanbu, and fields in Marjan. List:

• Fourth Industrial Revolution Center: Dhahran, Saudi Arabia
• Yanbu Refinery: Medina Province, Saudi Arabia
• Fadhili Gas Plant (PGP): Eastern Province, Saudi Arabia
• Mangrove Plantation: Red Sea coast, Saudi Arabia
• Marjan 4 platform: Marjan field, Saudi Arabia

These properties support the company’s operations in exploration, production, refining, and sustainability initiatives.

Segment-wise performance

The Upstream segment’s operational and financial performance includes adding production capacity, with 300 mbpd from Marjan in 2025. Earnings before interest, taxes and zakat SAR 801,047 million in 2024, down 7.2%.

• Nine months 2025 upstream earnings: SAR 552,295 million, down 9.8%
• Q3 2025 upstream earnings: SAR 193,079 million, down 2.5%

Year-on-year movements show decrease in revenue due to lower volumes and prices, partly offset by lower royalties. The Downstream segment’s performance includes investments in petrochemicals and retail.

• Nine months 2025 downstream earnings: SAR 9,096 million, improved from loss
• Q3 2025 downstream earnings: SAR 5,079 million, improved from loss

The Corporate segment’s performance supports overall governance. Earnings negative SAR 21,830 million in 2024, increased loss 19.8%.

• Nine months 2025 corporate earnings: SAR (12,401) million
• Q3 2025 corporate earnings: SAR (4,548) million

Founders

The company’s history spans more than nine decades, with origins in oil exploration in Saudi Arabia. The founders are related to the concession granted in 1933 to Standard Oil of California.

Shareholding pattern

The promoters include the Government of Saudi Arabia, holding 81.48% direct shareholding. Institutional investors include domestic and international from the IPO and secondary offering.

• Public shareholding: 0.7% from 2024 secondary offering
• Shares sold in 2024: 1.7 billion

Any disclosed changes include the secondary offering in June 2024, selling 1.7 billion shares.

Parent

The company is owned primarily by the Government of Saudi Arabia. Parent company details include the Ministry of Energy and royal patronage from King Salman and the Crown Prince.

Investments and capital expenditure plans

Ongoing and planned investments include SAR 186.3 billion in 2024 capex. Capex allocation is for upstream increments like Marjan and downstream expansions in chemicals and LNG.

• Nine months 2025 capex: SAR 140,298 million, up 3.4%
• Q3 2025 capex: SAR 47,081 million, down 5.1%

R&D spending is part of innovation efforts, such as the Fourth Industrial Revolution Center, with research and development expense SAR 5,816 million in 2024. Strategic priorities include capturing value in the energy chain and sustainability.

• Jafurah midstream deal: SAR 41,802 million sale of 49% stake in 2025
• Fujian JV investment: SAR 2,279 million initial, commitment SAR 3,793 million

The capital program is the largest in history, expected to rise until mid-decade.

Future strategy

Management-stated strategies include investing with the long-term in mind, meeting rising energy demand while lowering emissions. Capacity expansion includes the Marjan increment adding 300 mbpd in 2025.

• Gas production target: ~80% growth by 2030 over 2021 levels
• Total gas and liquids: ~6 million bbl/oed anticipated

Market focus is on global demand growth, with expansions in LNG and petrochemicals. Technology and sustainability initiatives include reducing environmental impact and fostering social value.

• Net-zero Scope 1 and 2: By 2050 for wholly-owned assets
• Renewables: 12 GWac by 2030

The strategy comprises four pillars: Innovation (fostering growth with technology), Integration (capturing value across the chain), Investment (increasing upstream and downstream), and Sustainability (reducing impact while boosting value).

• HUMAIN investment: Unify AI assets for digital strategy in 2025
• Petro Rabigh stake increase: To ~60% in 2025

Competitive landscape

Competitors include major integrated energy companies such as ExxonMobil, Shell, BP, Chevron, TotalEnergies, PetroChina, and Sinopec. Market positioning is as one of the world’s largest, with low-cost, low-carbon intensity production.

Key strengths

Key strengths include preeminence in oil and gas production and leading position in chemicals. Supported by disclosed data, the company has strong earnings, high dividends, and significant capex.

• Net income nine months 2025: SAR 283,580 million
• Dividends nine months 2025: SAR 240,329 million
• Free cash flow nine months 2025: SAR 217,339 million
• ROACE trailing 12 months September 2025: 18.4%

Resilience during inevitable fluctuations in the oil market. Integrated operations provide further resilience.

• Gearing September 2025: 6.3%
• Supply reliability: 99.9% for nine months 2025

Key challenges and risks

Risks and challenges include fluctuations in the energy market. Regulatory, operational, financial, and market risks are managed through governance.

• Commodity price volatility: Lower prices impacted nine months 2025 revenue
• Geopolitical tensions: In MENA region
• Climate regulations: Transition to lower-carbon future
• Cyber threats: To digital infrastructure

Political and social instability in the MENA region. Law enforcement will never ask to violate instructions.

• Exposure to global oil/gas price fluctuations and demand shifts
• Operational hazards in industry

Conclusion and strategic outlook

The data-backed outlook shows continued growth through investments and expansions. Long-term positioning is based on the strategy of capturing value across the energy chain and profitably growing the portfolio.

• Planned HUMAIN stake: Enhance AI and digital strategy
• Revised gas target: 80% growth by 2030

FAQ

What is Saudi Aramco’s revenue for nine months 2025? Saudi Aramco’s revenue for nine months 2025 was SAR 1,254,914 million.

What is Saudi Aramco’s net income for nine months 2025? Net income for nine months 2025 was SAR 283,580 million.

What is Saudi Aramco’s cash flow from operating activities for nine months 2025? Cash flow from operating activities for nine months 2025 was SAR 357,637 million.

When was Saudi Aramco founded? Saudi Aramco was founded in 1933.

What are Saudi Aramco’s core values? The core values are Safety, Citizenship, Integrity, Accountability, and Excellence.

What is the mission of Saudi Aramco? To provide reliable, affordable, and more sustainable energy to communities around the world, and to deliver value to its shareholders through business cycles by maintaining its preeminence in oil and gas production and leading position in chemicals.

What are Saudi Aramco’s business segments? The business segments are Upstream, Downstream, and Corporate.

What is Saudi Aramco’s production capacity addition in 2025? 300 mbpd from the Marjan crude oil increment.

Who are the competitors of Saudi Aramco? Competitors include ExxonMobil, Shell, BP, Chevron, TotalEnergies, PetroChina, and Sinopec.

Content is based on publicly available corporate filings, regulatory disclosures, annual reports, 10-K filings, Investor Relations materials, and direct mail communication with the company.