Saudi Aramco reports higher third-quarter net profit on production boost
The logo of Aramco, officially the Saudi Arabian Petroleum Group, the Saudi oil and natural gas company, seen at the Big 4 Building at Stampede Park in Calgary, Canada, on the second day of the 24th World Petroleum Congress on September 18, 2023.
Arthur Widak | Nurfoto | Getty Images
Saudi Aramco on Tuesday reported a 0.9% increase in third-quarter profit, driven by higher production even as prices remained under pressure.
Here’s how Aramco’s third quarter 2025 results compare to LSEG consensus estimates:
- Adjusted net income: 104.92 billion Saudi riyals ($27.98 billion) and 98.47 billion Saudi riyals
- Revenues: 418.16 billion etc. 411.26 billion Saudi riyals
The results come as Aramco faces a profit crunch due to weak oil prices, apart from a brief surge in the second quarter triggered by tensions between Israel and Iran.
“We increased production with minimal cost increases and reliably delivered the oil, gas and related products our customers need, delivering strong financial performance and quarterly earnings growth,” said Aramco CEO Amin Nasser.
According to FactSet’s data, US West Texas Intermediate spot prices have fallen by over 16% since the beginning of the year. Similarly, the global benchmark Brent also fell by over 12%.
Over the weekend, OPEC+ announced a modest increase in oil production for December and decided to end further increases in the first quarter of next year. Cartel members agreed to increase the December production target by 137,000 barrels per day, in line with the increase in October and November.
OPEC+ has increased its production targets by about 2.9 million barrels per day since April, but began slowing the pace of these increases in October amid expectations of market abundance.
Adding to the complexity, new Western sanctions on Russia, a key member of OPEC+, are creating challenges for the group’s production strategy; Moscow faces limits on increasing production after the United States imposed additional restrictions on the country’s major oil producers, Rosneft and Lukoil.
Aramco recently completed the acquisition of 22.5% shares According to Reuters, the Saudi company’s total ownership in Petro Rabigh reached approximately 60% in exchange for $701.8 million from Japan’s Sumitomo Chemical. The oil giant also recently Acquired a minority stake in artificial intelligence company HUMAINThe majority of it belongs to the Saudi Arabian Public Investment Fund.
