Aramco's Q2 profits fall 22% as lower oil prices weigh on earnings
Saudi Arabian crude exports have been soaring, hitting a three-month high last month, though oil prices remain low.
Saudi Arabia’s state-owned oil company Aramco reported a 22% drop in second-quarter earnings on Tuesday, citing lower oil prices and weaker margins on refined and chemical products that were only partially offset by higher trading volumes.
The world’s biggest oil firm posted a net income of 85 billion Saudi riyals ($22.67 billion) for April to June 2025, down from 109 billion riyals ($29 billion) in the same period last year, as lower oil prices weighed on earnings.
Adjusted net income was 92.04 billion riyals ($24.54 billion), compared to 106.68 billion riyals ($29.07 billion) in the second quarter of 2024, an 18% fall year-on-year.
Free cash flow was $15.23 billion for the second quarter, compared to $18.95 billion for the second quarter of last year.
