Saudi Aramco’s net income dips on falling Oil

Saudi Aramco’s first-quarter net profit decreased 5% year-over-year amid weak oil prices. Net income for the three months ending March 31 was $26 billion, down from $27.3 billion for the same period the previous year. The amount was marginally higher than the $25.3 billion that markets predicted. Aramco CEO Amin Nasser stated that “global trade dynamics affected energy markets in the first quarter of 2025, with economic uncertainty impacting oil prices.” “These times also emphasize how crucial it is to plan and execute capital projects with discipline while maintaining a long-term perspective.’ “Aramco’s resilience during volatile times is a key factor in our financial performance and sustainable, progressive base dividend,” Nasser continued. Aramco reported that its cash flow from operating activities was $31.7 billion, down from $33.6 billion in the first quarter of 2024, and that its free cash flow for the quarter was $19.2 billion, down from $22.8 billion. The numbers indicate that the Saudi state oil giant’s balance sheet is still under stress as global demand slows with trade pressures, and crude prices don’t appear to recover. The business declared it would reduce its performance-linked dividend payment for the fourth quarter of 2024 from $10.2 billion to $200 million. It also reiterated $200 million for the first quarter of this year, which would be paid in the second quarter.