Saudi Aramco, based in Dhahran, reported a net income of $26.0 billion for the first quarter of 2025, slightly lower than the previous year due to global economic uncertainties impacting crude oil prices and sales volumes. Despite this, the company declared a base dividend of $21.1 billion for the quarter, showing a 4.2% increase from the same period in 2024. Additionally, a performance-linked dividend of $0.2 billion was announced. Operating cash flow for the quarter was $31.7 billion, with free cash flow at $19.2 billion, down from the previous year primarily due to capital expenditures of $12.5 billion. Saudi Aramco's President and CEO emphasized the company's commitment to investing in core operations and new energy ventures while maintaining financial strength. During the quarter, Aramco expanded its downstream operations in Asia by acquiring a 25% stake in Unioil Petroleum Philippines and also acquired a 50% interest in Blue Hydrogen Industrial Gases Company to advance its low-carbon hydrogen goals. The company initiated a pilot project for CO₂ Direct Air Capture technology and welcomed new oil and gas discoveries announced by the Ministry of Energy to enhance its upstream potential. Despite a slight increase in gearing ratio to 5.3%, Aramco's return on capital employed remained strong at 19.9%, showcasing efficient capital utilization and profitability.