Saudi Aramco has revealed its latest production figures in its second quarter and half year results statement, which was posted on the company’s website on Tuesday.
According to the statement, Aramco’s total hydrocarbon production came in at 12.780 million barrels of oil equivalent per day in the second quarter. This output stood at 12.305 million barrels of oil equivalent per day in the first quarter of 2025 and 12.318 million barrels of oil equivalent per day in the second quarter of last year, the statement highlighted.
Aramco’s total hydrocarbon production was 12.544 million barrels of oil equivalent per day in the first six months of 2025, the statement showed. This production stood at 12.365 million barrels of oil equivalent per day in the first six months of 2024, the statement pointed out.
The company’s total liquids production stood at 10.480 million barrels per day in the second quarter and 10.390 million barrels per day in the first six months of the year, according to the statement, which showed that this output was 10.300 million barrels per day in the first quarter, 10.159 million barrels per day in the second quarter of 2024, and 10.339 million barrels per day in the first six months of 2024.
Aramco’s total gas production came in at 11.850 billion standard cubic feet per day in the second quarter, 10.245 billion standard cubic feet per day in the first quarter, and 11.093 billion standard cubic feet per day in the second quarter of 2024, the statement highlighted. This output was 11.052 billion standard cubic feet per day in the first six months of the year and 10.373 billion standard cubic feet per day in the first six months of last year, according to the statement.
“In the second quarter of 2025, Aramco continued to demonstrate safe, reliable, and efficient operations achieving total hydrocarbon production of 12.8 million barrels of oil equivalent per day,” Aramco said in the statement.
Aramco pointed out in its statement that total liquids production figures comprise crude oil, NGL, and condensate and that total gas production figures include natural gas and ethane. The company noted in the statement that “total hydrocarbon production (million barrels of oil equivalent per day) is derived from million standard cubic feet per day (for natural gas and ethane) by dividing the relevant product production by 5.400 (in the case of natural gas) and 3.330 (in the case of ethane)”.
In its statement, Aramco revealed that its upstream adjusted EBIT for the first half of 2025 was $96.079 billion. This figure was $110.516 billion for the same period last year, Aramco pointed out in the statement.
“The decrease was largely due to lower crude oil prices, partially offset by a decrease in production royalties,” Aramco said in its statement.
The company noted in the statement that capital expenditures for the first half of 2025 were relatively consistent with the first half of 2024 “due to continuing development activity on multiple strategic gas projects and advancement of crude oil increments related to maintaining crude oil Maximum Sustainable Capacity (MSC) at 12.0 million barrels per day”.
Aramco defines MSC in its statement as “the average maximum number of barrels per day of crude oil that can be produced for one year during any future planning period, after taking into account all planned capital expenditures and maintenance, repair and operating costs, and after being given three months to make operational adjustments”. The company notes in its statement that MSC excludes AGOC’s crude oil production capacity.
Aramco posted an adjusted EBIT of $97.112 billion in the first half, according to its results statement, which highlighted that the company’s adjusted EBIT stood at $108.739 billion in the first half of last year.
“The decrease was mainly due to the impact of lower revenue and other income related to sales, and higher producing and manufacturing expenses,” Aramco said in its statement.
“This was partially offset by lower production royalties compared to the first half of previous year,” it added.
Aramco reported adjusted net income of $24.544 billion in the second quarter and $50.868 billion in the first half of the year. Aramco’s adjusted net income was $28.449 billion in the second quarter of last year and $56.546 billion in the first half of 2024, the statement showed.
Providing more context on the first half 2025 and first half 2024 adjusted net income figures, Aramco noted in the statement that the decrease was “mainly due to the same factors as net income, excluding the impact of adjusting items”. The company highlighted in the statement that its net income dropped from $56.342 billion in the first half of last year to $48.684 billion in the first half of this year. It pointed out that this 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 compared to the first half of the previous year,” Aramco added in the statement.
Aramco’s cash flow from operating activities was $27.5 billion in the second quarter and $59.3 billion in the first half, the company highlighted in the statement. Its free cash flow was $15.2 billion in the second quarter and $34.4 billion in the first half, Aramco revealed in the statement. The company also noted that its board declared a second quarter base dividend of $21.1 billion and a performance-linked dividend of $0.2 billion, “to be paid in the third quarter”.
“Aramco’s resilience was proven once again in the first half of 2025 with robust profitability, consistent shareholder distributions and disciplined capital allocation,” Saudi Aramco President and CEO Amin H. Nasser said in the statement.
“Despite geopolitical headwinds, we continued to supply energy with exceptional reliability to our customers, both domestically and around the world,” he added.
“Market fundamentals remain strong and we anticipate oil demand in the second half of 2025 to be more than two million barrels per day higher than the first half. Our long-term strategy is consistent with our belief that hydrocarbons will continue to play a vital role in global energy and chemicals markets, and we are ready to play our part in meeting customer demand over the short and the long term,” he continued.
“We continue to invest in various initiatives, such as new energies and digital innovation with a focus on AI – aiming to leverage our scale, low cost, and technological advancements for long-term success,” Nasser went on to state.
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