Saudi energy heavyweight Aramco closed 2025 with a noticeable dip in earnings, as weaker prices for crude oil and chemical products trimmed the company’s revenue stream.
The state-backed oil titan posted a full-year net profit of $93.38 billion, marking an 11.6% decline from the previous year. The fall was largely attributed to lower sales revenue in a global energy market that has been less generous than in recent years.
The softer performance was also evident in the final quarter of the year. For Q4 2025, Aramco reported $17.76 billion in profit, a significant drop from $22.34 billion during the same period a year earlier. Rising operational costs added pressure, climbing to $69.7 billion, up from $68 billion in the comparable quarter.
Market expectations had been slightly higher. Analysts had projected roughly $95.6 billion in annual profit and about $24.1 billion for the fourth quarter.
Despite the earnings slowdown, the company signaled confidence in its financial strength. Aramco unveiled a share buyback plan worth up to $3 billion to be executed over the next 18 months. It also raised its base dividend, announcing $21.89 billion for the fourth quarter, representing a 3.5% increase year-on-year, with the payout scheduled for the first quarter of 2026.
On the investment front, Aramco plans to keep spending aggressively. Capital expenditure for 2026 is projected between $50 billion and $55 billion. The company spent $52.2 billion in 2025, aligning with its guidance and coming in $1 billion lower than the previous year.
Chief executive Amin H. Nasser said the company’s continuing investments are designed to strengthen its long-term position in the energy market. He highlighted progress in gas expansion projects, which are advancing on schedule to meet growing domestic demand while also producing valuable associated liquids.
According to Nasser, the momentum behind these projects could support stronger operating cash flows in the future, reinforcing the company’s standing as one of the world’s dominant energy producers.
