- 2025 net income reached $104.7 billion with $85.4 billion in free cash flow.
- Capital investment was $52.2 billion in 2025, with 2026 guidance set at $50-55 billion.
- Gas production capacity aims for an 80% increase by 2030, with Jafurah and Tanajib operations underway.
- Technology Realized Value from AI and digital solutions was $5.3 billion in 2025.
Financial Performance
In 2025, Aramco reported an adjusted net income of $104.7 billion and a free cash flow of $85.4 billion. The company's gearing ratio improved to 3.8% by the end of the year, down from 4.5% at the end of 2024. Total shareholder distributions amounted to $85.5 billion, with a base dividend of $21.89 billion for Q4, marking a 3.5% year-over-year increase.
Capital Investment and Guidance
Aramco's capital investment for 2025 was $52.2 billion, aligning with guidance and $1 billion lower than the previous year. The company has set its 2026 capital investment guidance between $50 billion and $55 billion. Additionally, a share buyback program of up to $3 billion over 18 months was announced.
Gas Production and Operations
Progress continues towards increasing sales gas production capacity by approximately 80% by 2030, compared to 2021 levels. This includes the start of production at Jafurah and the commencement of operations at the Tanajib Gas Plant. The Marjan crude oil increment was brought onstream, and water injection operations began at the Berri crude oil increment.
Technology and Localization
Aramco realized $5.3 billion in Technology Realized Value from AI, digital, and other solutions in 2025, bringing the cumulative total to $11.3 billion since 2023. The iktva program achieved 70% localization in procurement, with a target of 75% by 2030 to support supply chain resilience. Plans are also progressing to acquire a significant minority interest in HUMAIN to explore new AI value-creation opportunities.
