Aramco annual report 2025
Business model
Business Model
Capturing value across the hydrocarbon chain
Operations
Inputs
| Total hydrocarbon reserves1 (billion boe) |
247.2 |
| Maximum Sustainable Capacity (mmbpd) |
12.0 |
Outcomes and impacts
| Products produced | |
|
• Crude oil |
• Chemicals |
|
• Gas |
• Electricity |
|
• NGL |
• Blue ammonia |
|
• Condensate |
• Nonmetallics |
|
• Refined products |
|
| Upstream carbon intensity4(kgCO2e/boe) | Supply reliability7 (%) |
10.0 |
99.9 |
| Scope 1 emissions4 (mmtCO2e) | Scope 2 emissions4 (mmtCO2e) |
58.0 |
14.0 |
| Power supplied to the national grid8 (gigawatts) | Freshwater consumption4 (million cubic meters) |
0.5 |
78.5 |
Relationships
Inputs
| Stakeholders | |
|
• Customers |
• Partners |
|
• Suppliers |
• Governments |
|
Domestic and foreign subsidiaries, |
Countries of operations |
|
+400 |
+50 |
Outcomes and impacts
| In-Kingdom Total Value Add (iktva)4 (%) |
Payments to the Government9 (billion) |
|
70.0 |
$159 ﷼ 598 |
Financials
Inputs
| Capital expenditures2 (billion) | Net debt3 (billion) |
|
$51 ﷼ 190 |
$18 ﷼ 69 |
| Average capital employed3 (billion) | |
|
$541 ﷼ 2,028 |
Outcomes and impacts
| Adjusted net income* (billion) | ROACE* (%) |
|
$105 ﷼ 392 |
19.8 |
| Free cash flow* (billion) | Dividends paid (billion) |
|
$85 ﷼ 320 |
$85 ﷼ 320 |
Human
Inputs
| Company employees4 | |
|
76,664 |
|
Outcomes and impacts
| Lost time injuries/illnesses rate4 (per 200,000 work hours) |
Total recordable case rate4 (per 200,000 work hours) |
|
0.011 |
0.028 |
| Tier 1 process safety events4 |
Fatalities4 |
|
9 |
4 |
1 Hydrocarbon reserves of Saudi Arabian Oil Company (the Company) as at December 31, 2025, under the Concession agreement.
2 Capital expenditures do not include external investments.
3 For definition of net debt and average capital employed, refer to “Non-IFRS measures reconciliations and definitions”.
4 Refer to Section 3: Sustainability for further information.
5 Refer to Section 2: Results and performance – Upstream for further information.
6 Excludes SABIC Agri-Nutrients business and includes only ZPC’s net chemical production capacity through Aramco’s investment in Rongsheng.
7 Applies to the Saudi Arabian Oil Company (the Company).
8 Power supplied through Aramco’s captive power plants.
9 Includes income taxes, royalties, and dividend payments made by the Company.
* Non-IFRS measure: refer to “Non-IFRS measures reconciliations and definitions” for further information.
Global operations
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Global operations
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