Dubai, United Arab Emirates – The state oil giant of Saudi Arabia, Aramco, registered profits from the first quarter of $ 26 billion on Sunday, 4.6% less than the previous year, since the fall in world prices of oil undercover the multi -million dollar development plans of the kingdom.
Aramco, formally known as the Saudi Arabian Oil Co., had income of $ 108.1 billion during the quarter, the company reported in a presentation in the Riyaded Tadawul Stock Exchange. The company saw $ 107.2 billion in revenues and profits of $ 27.2 billion the same quarter last year.
Saudi Arabia has promised to invest $ 600 billion in the United States for the course of President Donald Trump.
Trump, who is ready to land on Riyadh on Tuesday on his first official official trip since he resumed the Oval office, said in January that he wants that number to be even higher, of about $ 1 billion.
Meanwhile, the de facto Saudi ruler, the crown prince Mohammed Bin Salman, has an eye on a $ 500 billion project to build NeomA vast futuristic city in the desert throughout the Red Sea. The kingdom will also need new stadiums and infrastructure that cost tens of billions of dollars by 2034, when Saudi Arabia will receive The World Cup.
The announcement of the results of the first quarter of Aramco occurs when the OPEC+ alliance has increased oil production. The oil sign agreed to increase production by 411,000 barrels per day next month, since the uncertainty promoted by US tariffs has chosen through the Middle East markets. That means Saudi Arabia probably needs to borrow or spend reserve funds to finance the expensive objectives of the heir prince.
The Aramco shares quoted more than $ 6 per share on Thursday, below a maximum of around $ 8 last year. It has been reduced during the past year as oil prices have dropped and in recent months.
“Global commercial dynamics affected energy markets in the first quarter of 2025, with the economic uncertainty that impacts oil prices,” said the president and CEO of Aramco, Amin H. Nasser, in a statement.
Benchmark Brent Crude quoted Friday in more than $ 63 per barrel, below the maximums of more than $ 80 in the last year.
Aramco has a market value of more than $ 1.6 billion, which makes it the sixth richest company behind Microsoft, Apple, Nvidia, Amazon and Alphabet, the owner of Google. Analysts see the company as a trend leader for world oil markets.
A fraction of Aramco is quoted in the Tadawul, while the participation of the lion in the company is owned by the Saudi Arabia government, helping to pay the expenses and increasing the wealth of the royal family of Al Saud of the country.
