LOC12:41
09:41 GMT
RIYADH, May 11 (KUNA) -- Aramco announced on Sunday the results of the first quarter of 2025 results, noting that net income reached USD 26.0 billion when compared to USD 27.3 billion in the same period last year.
According to an Aramco statement, cash flow from operating activities reached USD 31.7 billion compared to USD 33.6 billion in the first quarter of 2024, adding that
Free cash flow was at USD 19.2 billion compared to the first quarter of 2024, which was at USD 22.8 billion, it added.
Gearing ratio was at 5.3 percent on March 31, 2025, compared to 4.5 percent at end of 2024.
The Board declared Q1 2025 base dividend of USD 21.1 billion, up 4.2 percent year-on-year, and performance-linked dividend of USD 0.2 billion, to be paid in the second quarter, said Aramco, adding that capital expenditures of USD 12.5 billion in Q1 support long-term strategic growth.
It revealed that definitive agreements to acquire 25 percent equity stake in Unioil Petroleum Philippines support strategic growth in downstream value chain.
The statement also revealed completed acquisition of 50 percent equity interest in Blue Hydrogen Industrial Gases Company aims to capitalize on emerging opportunities for lower-carbon energy.
Aramco also indicated the launch of CO2 Direct Air Capture pilot plant paves way for further scale up of innovative emission-reduction technology.
Commenting on the results, Aramco President and CEO Amin Nasser said, "Global trade dynamics affected energy markets in the first quarter of 2025, with economic uncertainty impacting oil prices. In this context, Aramco's robust financial performance once again demonstrated the Company's unique scale, its reliability and flexibility, the value of its low-cost operations, and its emphasis on efficiency and advanced technology."
"Such periods also highlight the importance of disciplined capital planning and execution while we continue to take a long-term view. In volatile times Aramco's resilience underpins both our financial performance and our sustainable and progressive base dividend," he added
"With all forms of energy key to meeting energy demand we continue to advance our growth strategy across Upstream, Downstream and New Energies, while working to reduce emissions."
"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." (end)
ase.gta