On 2026-03-10 08:13:22 (Saudi Time), Saudi Arabian Oil Company (Saudi Aramco) announced its Annual financial results for the year ended on December 31, 2025.

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year	Revenue of SAR 1,559.34 billion ($415.82 billion) for the year ended December 31, 2025, compared to SAR 1,637.30 billion ($436.61 billion) for the year ended December 31, 2024. The decrease in revenue was mainly due to lower prices of crude oil as well as lower prices of refined and chemical products. This was partially offset by higher volumes sold of refined and chemical products, as well as gas and crude oil.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	Net income attributable to shareholders' equity of SAR 348.04 billion ($92.81 billion) for the year ended December 31, 2025, compared to SAR 393.89 billion ($105.04 billion) for the year ended December 31, 2024. The decrease was mainly due to the impact of lower revenue and other income related to sales. This was partially offset by lower operating costs and lower income taxes and zakat driven by lower taxable income. *Adjusted net income of SAR 392.45 billion ($104.65 billion) for the year ended December 31, 2025. Total adjustments of SAR 42.24 billion ($11.26 billion) mainly related to impairment and held for sale remeasurement losses, adjustments related to joint ventures and associates, losses for the year from assets classified as held for sale, and (gains) losses on sales, retirements and disposals.
Statement of the type of external auditor's report	Unmodified opinion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	-
Reclassification of Comparison Items	Certain comparative amounts for 2024 have been reclassified to conform to the current year presentation.
Additional Information	- Given the nature of Saudi Aramco’s business in exploring, prospecting, drilling and extracting hydrocarbon substances (Upstream), Saudi Aramco’s consolidated statement of income does not include gross profit. - Other income related to sales was SAR 111.86 billion for the year ended December 31, 2025 (2024: SAR 164.38 billion). As a result, revenue and other income related to sales amounted to SAR 1,671.20 billion for the year ended December 31, 2025 (2024: SAR 1,801.67 billion). * For further details related to adjusted net income, please refer to the Non-IFRS measures reconciliations and definitions section in the attached fourth quarter and full-year press release.
Attached Documents

Year-on-Year Performance Drivers

Sales declined 4.76% YoY to SAR 1,559.34 billion, primarily driven by lower crude oil prices and reduced prices of refined and chemical products, which was partially offset by higher volumes sold across refined products, chemicals, gas and crude oil. Net profit decreased 11.64% YoY to SAR 348.04 billion, mainly due to the impact of lower revenue and reduced other income related to sales, though this was partially mitigated by lower operating costs and reduced income taxes and zakat resulting from lower taxable income.

Other Items

The auditors issued an unmodified opinion on Saudi Aramco's 2025 financial statements. No material uncertainties, going concern issues, or significant risk warnings were highlighted in the audit report. The company reported total shareholders' equity of SAR 1,492 billion, representing a 2.31% increase from the previous year. Certain comparative amounts for 2024 were reclassified to conform to current year presentation. The company noted that due to its upstream hydrocarbon business nature, gross profit is not included in the consolidated income statement, and adjusted net income of SAR 392.45 billion included total adjustments of SAR 42.24 billion mainly related to impairment and held for sale remeasurement losses.

Original announcement:

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