Saudi oil big Aramco broadcasts first-quarter income of $26 billion, down 4.6% from a 12 months earlier

Saudi Aramco engineers and journalists take a look at the Hawiyah Pure Fuel Liquids Restoration Plant in Hawiyah, within the Japanese Province of Saudi Arabia. File
| Picture Credit score: AP

Saudi Arabia’s state-owned oil big Aramco posted first-quarter income of $26 billion on Sunday (Could 11, 2025), down 4.6% from the prior 12 months as falling world oil costs undermine the dominion’s multi-trillion-dollar improvement plans.

Aramco, formally often called the Saudi Arabian Oil Co., had revenues of $108.1 billion over the quarter, the corporate reported in a submitting on Riyadh’s Tadawul inventory change. The corporate noticed $107.2 billion in revenues and income of $27.2 billion the identical quarter final 12 months.

Saudi Arabia has promised to speculate $600 billion within the U.S. over the course of President Donald Trump’s time period.

Mr. Trump, who is about to the touch down in Riyadh on Tuesday (Could 13) on his first official overseas journey since he retook the Oval Workplace, mentioned in January that he desires that quantity to be even larger, at round $1 trillion.

In the meantime, the Saudi de facto ruler, Crown Prince Mohammed bin Salman, has his sights set on a $500 billion venture to construct Neom, an enormous, futuristic metropolis within the desert alongside the Crimson Sea. The dominion can even want new stadiums and infrastructure costing tens of billions of {dollars} by 2034, when Saudi Arabia will host the World Cup.

The announcement of Aramco’s first-quarter outcomes comes because the OPEC+ alliance has ramped up oil manufacturing. The oil cartel has agreed to spice up output by 4,11,000 barrels per day subsequent month, as uncertainty pushed by U.S. tariffs has rippled by Center Japanese markets. Meaning Saudi Arabia will doubtless must borrow or spend reserve funds to finance the crown prince’s costly objectives.

Aramco’s inventory traded over $6 a share on Thursday (Could 8), down from a excessive of round $8 final 12 months. It has dropped over the previous 12 months as oil costs have dipped, and in current months.

“World commerce dynamics affected power markets within the first quarter of 2025, with financial uncertainty impacting oil costs,” Aramco President and CEO Amin H. Nasser mentioned in an announcement.

Benchmark Brent crude traded on Friday (Could 9) at over $63 a barrel, down from highs of over $80 within the final 12 months.

Aramco has a market worth of over $1.6 trillion, making it the sixth richest firm behind Microsoft, Apple, NVIDIA, Amazon and Alphabet, the proprietor of Google. Analysts see the corporate as a pattern chief for world oil markets.

A fraction of Aramco trades on the Tadawul, whereas the lion’s share of the corporate is owned by Saudi Arabia’s authorities, serving to pay for expenditures and including to the wealth of the nation’s Al Saud royal household.