Saudi Aramco recorded adjusted net income of $28 billion in its third quarter (Q3) of 2025, up from $27.7 billion in the same period last year. The profit growth was driven by high production performance and rigorous financial management.
The company’s total production of hydrocarbons rose to 13.3 million barrels of oil equivalent per day (mmboe/d) during the quarter, up from 12.688 mmboe/d in Q3 2024. This production increase was supported by total liquids production of 10.8 million barrels per day (mmbbl/d) and total gas output of 12.6 billion standard cubic feet per day (bscf/d).
“Aramco’s ability to adapt to new market realities has once again been demonstrated by our strong third quarter performance,” said Amin H. Nasser, President and Chief Executive Officer (CEO) of Aramco. “We increased production with minimal incremental cost, and reliably supplied the oil, gas, and associated products our customers depend on, driving strong financial performance and quarterly earnings growth.”
The company’s cash flow from operating activities reached $36.1 billion in Q3 2025, compared to $35.2 billion in Q3 2024. Free cash flow registered at $23.6 billion, up from $22.0 billion year-on-year (YoY).
Aramco continued to advance its gas expansion strategy, revising its 2030 sales gas production capacity target to an 80% increase over 2021 levels, up from a previous goal of more than 60%. This includes unconventional gas expansion at the Jafurah field, which is expected to reach a sustainable sales gas rate of 2.0 bscf/d by 2030. Additionally, the Tanajib Gas Plant is slated for completion in 2025 and will add 2.6 bscf/d of raw gas processing capacity.
In Upstream oil projects, the company advanced the Marjan, Berri, and Zuluf increments. These projects are expected to collectively add 1.15 million barrels per day (mmbbl/d) of crude between 2025 and 2026 (300 mmbbl/d, 250 mmbbl/d, and 600 mmbbl/d, respectively).
In the Downstream segment, Aramco strengthened its international presence with new investments. It established the Fujian Sinopec Aramco Refining & Petrochemical Company Limited joint venture in China, which will include a 320,000 bbl/d refinery and 1.5 million ton per year (mmt/y) ethylene unit, with operations targeted by 2030.
Furthermore, the company expanded its retail footprint in Southeast Asia by acquiring a 25% stake in Unioil Petroleum Philippines Limited, and it increased its ownership in Petro Rabigh to about 60% following the acquisition of an additional 22.5% stake from Japan’s Sumitomo Corporation.
