Saudi giant Aramco says annual profits down 12pct

Riyadh, Saudi Arabia: Saudi Aramco on Tuesday reported a 12.1 percent decline in net income in 2025 as higher supply, US tariffs and other economic he...

Riyadh, Saudi Arabia: Saudi Aramco on Tuesday reported a 12.1 percent decline in net income in 2025 as higher supply, US tariffs and other economic headwinds weighed on revenues.

The world's biggest oil exporter said in a statement that net income in 2025 reached $93.38 billion, compared to $106.24 billion in 2024.

Stripping out exceptional items, adjusted net income was $104.65 billion in 2025 compared to $110.29 billion in 2024, a slide of 5.1 percent.

However, president and CEO Amin H. Nasser said in a statement: "Following another year of record oil demand in 2025, we believe ongoing investments in our operations position us well for the future."

The report was released as the 11-day-old geopolitical tensions in the Middle East destabilised energy supplies, triggering wild swings in crude prices.