The state-owned oil giant Saudi Aramco reported a 4.8% decline in net profit for the first quarter of 2025, as weaker oil prices weighed on earnings compared to the same period last year.
According to its financial statement, the world's biggest crude exporter, posted a net income of $26 billion for the January-March period, down from $27.3 billion in Q1 2024.
Amin H. Nasser, Aramco's president and CEO, said global trade dynamics contributed to economic uncertainty, putting downward pressure on oil prices. He emphasized that despite these challenges, Aramco's performance continued to reflect the company's financial strength, operational efficiency, and commitment to advanced technologies.
Noting that periods of market volatility underscore the importance of disciplined capital planning and execution, Nasser said, 'Aramco's resilience underpins both our financial performance and our sustainable and progressive base dividend.'
He added that the company remains focused on reducing carbon emissions across its upstream, downstream, and emerging energy operations.
'Our ambition is reflected in milestones already announced in 2025, including progress towards our gas production growth target, our global retail expansion, the advancement of our petrochemicals strategy, headway in blue hydrogen business development, and further innovation in carbon capture,' Nasser concluded.
Brent crude, the global oil benchmark, declined approximately 2.3% in the first quarter, fluctuating between $81.75 and $68.23 per barrel.
By Duygu Alhan
Anadolu Agency
energy@aa.com.tr